The EU’s admission to the CPTPP has been dubbed “impossible” in a major setback for Brussels.

0

The EU’s admission to the CPTPP has been dubbed “impossible” in a major setback for Brussels.

According to an analyst, the EU could never join the CPTPP since bringing these two blocs together would be the most difficult thing in the world of trade.

New Zealand’s Prime Minister, Jacinda Ardern, has threatened to veto the United Kingdom’s membership in a key trade group this week. Ms Ardern gave a speech to the New Zealand Institute of International Affairs on Wednesday, in which she updated the public on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade talks. Australia, New Zealand, Canada, Japan, Singapore, Vietnam, Mexico, Malaysia, Peru, Chile, and Brunei are all parties to the CPTPP, which is a high-quality free trade agreement.

It encompasses roughly 14% of the global economy.

She stated that talks on a trade deal with the United Kingdom were “well-advanced,” echoing UK officials’ statements that a deal may be reached in the coming weeks.

During her address, however, Ms Ardern appeared to threaten to disrupt the UK’s ambitions to join the CPTPP.

“Governments will need to re-commit to supporting an open and rules-based regional system; one that is more durable and resilient,” she added of international relations following the pandemic.

Ms Ardern’s mention of countries adhering to a “rules-based regional order” is likely to have raised some eyebrows in Whitehall.

The EU and the United States have frequently cautioned the UK that failing to properly execute the Northern Ireland Protocol would constitute a violation of international law.

Ms Ardern’s remarks may have raised fears that New Zealand will support Brussels in the diplomatic row.

While New Zealand may be willing to back Brussels, Alan Winters, director of the University of Sussex’s Trade Policy Observatory, indicated in an exclusive interview with This website that the European Union will never join the CPTPP.

Mr Winters stated that there is “absolutely no chance” that the two parties can come to an agreement.

“Yeah… pigs could fly,” he remarked.

“The EU would join the CPTPP provided the CPTPP agreed to comply with EU standards and laws.

“Therefore, there is no way. There’s no way.

“It would be one of the most difficult things in the world of trade to get the CPTPP and the EU together.”

Mr Winters, on the other hand, believed that if the United States entered the alliance, things would be a lot easier.

“Remember, the CPTPP is the TPP’s child,” he continued.

“At the time, Biden was a strong supporter.

Brinkwire Summary News” says, “He has.”

Share.

Leave A Reply