Manila: The United Kingdom is hoping for the eventual inclusion of the Philippines in the 12-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), citing the potential for stronger trade with the country under the pact.
According to Philippines News Agency, parties to the CPTPP, a free trade deal among Australia, Canada, Japan, Mexico, New Zealand, Singapore, Vietnam, Peru, Malaysia, Chile, Brunei, and the United Kingdom, agreed last week to begin preparatory talks on the Philippines' accession.
'We've strongly supported the Philippines' application. If the Philippines completes the process and joins the agreement, businesses in our countries would benefit from lower tariffs, simpler trading rules, and stronger supply chains,' UK Deputy Trade Commissioner for Asia Pacific (Southeast Asia) Rhiannon Harries said on Wednesday.
Preparatory talks do not guarantee accession or the launch of formal negotiations, but the UK Embassy in Manila said they will advance understanding of the pact's standards between Manila and the CPTPP parties.
'These preparatory discussions could help lay the groundwork for the launch of a potential future accession process for the Philippines, which could open new opportunities for business, investment, and growth,' Harries said.
The CPTPP is regarded as one of the world's most significant free trade agreements (FTA), representing nearly 15 percent of the global economy.
By joining the CPTPP, the Philippines could access one of the world's most comprehensive trade networks, potentially lowering tariffs and streamlining trading regulations across diverse markets.
"We warmly welcome this important milestone. The UK looks forward to working together with CPTPP Parties and the Philippines through this process," said British Ambassador to the Philippines, Sarah Hulton OBE.
The UK and the Philippines had been developing deeper economic ties under the Joint Economic and Trade Committee (JETCO), established in 2025 to strengthen cooperation on infrastructure, renewable energy, agriculture and technology.
Philippine exporters also benefit from the UK's Developing Countries Trading Scheme (DCTS), which allows tariff-free access to 92 percent of products.
Under its recently launched trade strategy, the UK said it intends to focus on deepening and widening the CPTPP.