31 March 2023
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a
multilateral trade partnership amongst eleven countries.
Following extensive negotiations, Jersey has been included in the UK’s agreement with the
CPTPP for the trade in goods. This will provide Jersey businesses access to new markets and
business opportunities when the agreement comes into force.
There is also the opportunity for the services-related chapters of the CPTPP to be extended to
Jersey at a later date.
The Assistant Minister for External Relations, Deputy Ian Gorst, said:
“The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is one of the
largest trading blocs in the world, with the 11 signatory countries collectively representing
13.4% of global gross domestic product.
“I would like to thank all parties for their efforts in working to ensure Jersey's interests were
represented throughout the negotiations. The extension of the CPTPP will provide our
businesses with opportunities to access new markets as well as raising the profile and visibility
of our Island across this global trading partnership."
An ‘agreement in principle’ is when two parties agree the text of the agreement. It is neither the
formal signing of the agreement nor a declaration that the agreement is in force. Following an
announcement that an agreement in principle has been reached, the text will undergo the
necessary legal checks (often referred to as “legal scrub”) to ensure consistency. This will then be
followed by a formal signing ceremony at a later date.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade
agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,
Singapore, and Vietnam.
Since their departure from the European Union, the UK government has been pursuing a wide
range of trade agreements with countries around the world, some of which Jersey has already been
included in, such as Australia and New Zealand.
Jersey’s participation in these agreements is in line with the Island’s trading objectives – as outlined
in the Common Policy for External Relations (CPER) – and the pursuit of opportunities that will
provide better market access and business opportunities to the Island’s economy.