LNB News 24/01/2024
Document Information
Issue Date: 24 January 2024
Published Date: 24 January 2024
Jurisdiction(s): England, Northern Ireland, Scotland, Wales and Singapore
The Foreign, Commonwealth & Development Office and Department for Business and Trade have announced that Singapore has formally approved the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), making it the second member to do so following Japan's approval in 2023. The accession will enhance the UK-Singapore bilateral relationship, providing opportunities to strengthen participation in supply chains, diversify trade, boost investment into the UK and Singapore's economies and collaborate on shared priorities. The UK has now introduced the Trade CPTPP Bill in parliament to bring the deal into force. The Bill is expected to come into force in the second half of 2024 once the UK and CPTPP Parties have finished their legislative processes.
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