the uk has struck a deal to join a trans pacific trade pact consisting of 11 countries. together australia, brunei, canada, chile, japan, malaysia, mexico, new zealand, peru, singapore and vietnam account for 13% of global gdp. the pact called the comprehensive progressive agreement for trans pacific partnership aims to cut or reduce 95% of import charges or tariffs. but some will be retained to protect sensitive domestic areas. the initial gains for britain will only be marginal, as it already has free trade deals with 9 of the 11 countries involved, and the government s own estimates show being in the bloc will only add 0.08% to the size of the uk s economy. joining me now is marco forgione, dg of the institute of export and international trade. how big a win is this for britain? victoria, this is a huge achievement to the uk. there are three areas we need to look at whenjudging are three areas we need to look at when judging what s been approved. the first is the e
victoria, this is a huge achievement to the uk. there are three areas we need to look at whenjudging are three areas we need to look at when judging what s been approved. the first is the economic benefits and the opportunity for uk goods, for uk services and for foreign direct investment to grow under free trade terms. the second is around supply chain resilience and we ve seen it in recent years, the disruption that has occurred to existing supply chains and the obsession is an important step in the uk framing and developing really resilient supply chains. just to cive resilient supply chains. just to give up resilient supply chains. just to give up on resilient supply chains. just to give up on that, - resilient supply chains. just to give up on that, how are supply chains going to be more resilient as a result of this? when you look at the terms. the agreement on something called accumulation, the ability for commodities and components to move between member states without t
waters without a proper licence. it s now moored in le havre pending possible judicial proceedings against the captain and owner. it s clearly intended as a message to the british about what s to come from next week, when the french begin to enact reprisal measures in the row over fishing licences. before a french parliamentary committee, europe minister clement beaune spelt out what s to happen. from tuesday, he said, no uk fishing boat will be allowed to unload its catch in french ports. there will be intensified inspections on uk goods entering france by ferry and the channel tunnel. and in a second wave of measures, france may raise the tariff on electricity it supplies to the channel islands. france says this is because the uk and the channel islands have failed to keep their side of the deal on fishing licences signed as part of brexit. the british government says that s not true. it is very disappointing to see
from tuesday, he said, no uk fishing boat will be allowed to unload its catch in french ports. there will be intensified inspections on uk goods entering france by ferry and the channel tunnel. and in a second wave of measures, france may raise the tariff on electricity it supplies to the channel islands. france says this is because the uk and the channel islands have failed to keep their side of the deal on fishing licences signed as part of brexit. the british government says that s not true. it is very disappointing to see the comments that came from france yesterday. we believe these are disappointing and disproportionate, and not what we would expect from a close ally and partner. the measures being threatened do not appear to be compatible with the trading cooperation agreement or wider international law. the licences row flared in may, when protesting french fishing boats sailed in flotilla intojersey waters and london sent in two navy
it was fishing in french waters without a proper licence. it is now moored in le havre pending possible judicial proceedings against the captain and owner. it s clearly intended as a message to the british about what s to come from next week, when the french begin to enact reprisal measures in the row over fishing licences. before a french parliamentary committee, europe minister clement beaune spelt out what s to happen. from tuesday he said no uk fishing boat will be allowed to unload its catch in french ports. there will be intensified inspections on uk goods entering france by ferry and the channel tunnel. and in a second wave of measures, france may raise the tariff on electricity it supplies to the channel islands. france says this is because the uk and the channel islands had failed to keep their side of the deal on fishing licences signed as part of brexit. the british government says that s not true. it is very disappointing to see the comments that came from france yesterday.