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together, these pacific rim countries, which doesn t include the usa, account for 13% of global gdp. the pact, it s called the comprehensive progressive agreement for trans pacific partnership, aims to cut 95% of import tariffs. the initial gains for the uk economy may be only marginal, that s according to the government s own estimates. here s the bbc s global trade correspondent, dharshini david, explinaing what that pact, is all about. cptpp is more thanjust cptpp is more than just a cptpp is more thanjust a mouthful. it is a packed between 11 nations and they are reducing those tariffs and they are reducing those tariffs and they are also making it easier to trade with each other and to invest in each other, supply chains should run more smoothly, but why is it when you look at the government estimates, they are talking about a gain of 8p in every £100 of income in ten years time. the uk already has trade deals with all but two other members of cptpp, so the incre ....
In ten years time. the uk already has trade deals with all but two other members of cptpp, so the increased gains are pretty slim. if you consider on top of that, the fact that there is a price to admission we have had to give more access in the uk to foreign farmers, for example, although not much more anti farmers here are not feeling too uncomfortable about that but there is a price for admission. why all the negotiations to join this club question of the answer is long term potential. it involves the faster growing nations. there is a chance you could see deeper links with services and digital trade and also the chance of new members as well. even china is being bandied around. this is not a get rich quick scheme when it comes to the economic gains but there are other things going on. ....