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BREAKING
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

UK joins Indo-Pacific trade bloc amid faltering post-Brexit economy

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Jul 2023 09:51
3 Min Read

London's accession to the Progressive Agreement for Trans-Pacific Partnership (CPTPP) will allow its businesses to gain trade advantages in a 500 million-consumer collective market.

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  • UK joints
    A pro-European Union protester holds UK and European flags in front of Victoria Tower at the Palace of Westminster in central London on September 13, 2017 (AFP)

The United Kingdom finalized its accession into a major Indo-Pacific trade bloc as the former EU member looks to expand its business relations beyond its European borders.

A protocol for the Progressive Agreement for Trans-Pacific Partnership (CPTPP) was inked by British Business and Trade Secretary Kemi Badenoch in New Zealand, making Britain the bloc's newest member and the first European nation to join it since its inception in 2018.

Read more: UK economy continues tumbling, borrowing rate hits 2008-high

The CPTPP comprises G7 countries Canada and Japan, in addition to Australia and New Zealand. Other nations part of the international economic body include Brunei, Chile, Malaysia, Mexico, Peru, Singapore, and Vietnam. 

While Beijing has submitted an application to join, the coalition shrugged off Beijing's desire as it unofficially sees the Asian giant as its main adversary.

Australian trade assistant minister welcomed the UK becoming the group's 12th member, describing the trans-pacific partnership as “the pre-eminent trade agreement in the world."

“It’s good to have another major economy that’s got a strong track record of complying with WTO rules and is going to measure up to the CPTPP standards,” Tim Ayres said.

Read more: UK CPTPP membership to result in more deforestation

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On the other hand, Ayres signaled that China's inquiry is currently not being considered.

London has been pushing a "Global Britain" strategy since formally severing nearly 50 years of ties with its nearest neighbors in the European Union three years ago. 

The deal was concluded after two years of talks as the UK pushes for its "Global Britain" strategy.

As per the agreement that will go into effect later this year, tariffs for UK exports to CPTPP countries will be significantly slashed

Badenoch described the deal as "a big boost for British businesses," which will not have eased access to global markets with over 500 million consumers.

Read more: UK invites MBS despite Saudi Arabia's poor record in human rights: FT

"We are using our status as an independent trading nation to join an exciting, growing, forward-looking trade bloc, which will help grow the UK economy and build on the hundreds of thousands of jobs CPTPP-owned businesses already support up and down the country," she said.

The CPTPP bloc will now have a combined worth of over $15 trillion, or 15 percent of world GDP. But this fact did not leave the UK's accession without local criticism by anti-Brexit parties.

They considered that this agreement will not compensate for the benefits London enjoyed when it was part of the EU, which is the world's largest trade bloc and collective economy.

Britain's Office for Budget Responsibility forecasted in April that the Brexit deal will cut long-term productivity by 4 percent compared to when the UK was a member of the 27 bloc union.

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