The UK has reached an agreement with Asian free trade partnership Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Nearly a part of the £8.4 trillion club, the UK will now enter the market access phase of negotiations with the free trade area.
It comes ahead of international trade secretary Anne-Marie Trevelyan’s trip to Indonesia, Japan and Singapore next week.
“CPTPP is one of the largest and most exciting free-trading clubs in the world. Today’s announcement is a major milestone for us joining this dynamic group of economies and means the finish line is in sight,” said Trevelyan.
“I look forward to visiting Asia next week and flying the flag for Global Britain by holding valuable trade talks with key partners across the Indo-Pacific region and pushing to secure CPTPP accession by the end of the year.
“This is just one aspect of our Indo-Pacific strategy, which will benefit businesses and consumers across every part of the UK and help us to level up at home.”
Once complete, it will be a significant milestone in the country’s post-Brexit trade ties.
The government is also reportedly looking to ink deals with individual US states, after president Joe Biden said a trade past with the UK was not a priority.