Beyond Accession: The UK's Role in Shaping CPTPP’s Future and Unlocking New Opportunities
Asia House convened government figures, diplomats, and leading business executives for an insightful discussion on the future of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), following the UK’s historic accession. The event, supported by the Embassy of Japan, highlighted the significant economic opportunities and strategic considerations for British businesses as they embark on this pivotal new chapter in global trade.
In a keynote address, Sharon Hodgson MP, the UK's newly appointed Trade Envoy to Japan, emphasised the importance of UK-Japan relations as a cornerstone for economic growth, especially in the automotive industry. Hodgson celebrated the longstanding relationship between the two nations, strengthened further by the UK's membership in the CPTPP, which places Britain among some of the world’s most dynamic economies. Hodgson also highlighted CPTPP's potential as a stabilising force amid global geopolitical uncertainties, ensuring robust regulatory frameworks and open markets.
Charlie Humphreys, Director of Corporate Affairs at Asia House, shared insights from our research and stressed that while the UK's membership represents significant progress, businesses and policymakers must adapt swiftly to maximise benefits. Humphreys emphasised Asia House's leadership in fostering conversations around CPTPP, encouraging active UK engagement to shape the future of global trade.
During the panel discussion moderated by Michael Lawrence OBE, Chief Executive of Asia House, panellists shared valuable insights on practical business implications. Sibel Sirmagul of HSBC noted CPTPP’s role in simplifying supply chains and providing shorter, more efficient trade routes. Jonathan Brenton from Pernod Ricard echoed these sentiments, highlighting the immediate tariff reductions benefiting UK exporters.
Alex Gover from Intralink, on the other hand, observed that CPTPP has yet to resonate significantly with many technology companies expanding into Asia. Gover emphasised the ongoing importance of cultural understanding, language proficiency, and regulatory awareness—particularly in markets like Japan. While acknowledging CPTPP’s strategic advantages, Gover stressed the importance of proactive business strategies to overcome these complexities.
Rob Cook from the Department for Business and Trade closed the event, reaffirming the UK Government's commitment to CPTPP. He identified supply chain resilience, market access facilitation, and maintaining high regulatory standards as key priorities, underlining Britain’s ambition to influence CPTPP’s future direction actively.
For further insights on CPTPP and global trade from Asia House, please contact Katie Reid, Stakeholder Engagement Associate, at katie.reid@asiahouse.co.uk.
Watch the full event online here.
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