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Milestones and Momentum: A year of Business Growth

This year, through publicly funded services delivered by Business West, we have provided tailored support to help ambitious companies enhance their capabilities across our region. Our mentoring and strategic advice in areas such as business planning, market analysis, and scaling operations has enabled businesses to manage innovation more efficiently and achieve sustainable growth. Find out more in our Impact Report.

Tara Gillam

19 December, 2024

Business West

International Trade: What is the CPTPP, and why could it benefit Traders?

What is the CPTPP? The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement comprising 11 member countries across Asia, the Pacific, and the Americas: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Together, these nations represent 13% of global GDP (15% with the UK’s inclusion) and a consumer base of over 500 million people.Originally signed in 2018, the CPTPP is designed to reduce tariffs on 95% of goods traded between members, facilitate modern rules for services and digital trade, and enhance regulatory cooperation. Unlike the EU, it is not a single market or a customs union, meaning members retain sovereignty over their regulations while committing to trade cooperation.

Fiona Parsons

17 December, 2024

Business West