UK strikes deal to join CPTPP pact, boost trade with Indo-Pacific
The British government announced Friday its conclusion of trade talks with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a vast free trade area spanning the Indo-Pacific, after 21 months of negotiations.
The bloc is home to over 500 million people and will have a total GDP of £11 trillion (more than $13.64 trillion) once the UK joins, the British government said.
“As the fifth largest economy in the world by GDP in 2021 and with a market of 67 million consumers, the UK is an attractive market for Vietnam,” the British Embassy in Hanoi said. “Expanding the CPTPP to include the UK will help to diversify supply chains, remove trading barriers, and encourage more trade for our businesses.”

A container truck at a port in Vietnam. The UK’s accession to the CPTPP will help increase trade. Photo courtesy of Vietnam Television.
Britain’s negotiations, which began in June 2021, concluded after an intense round of talks in Vietnam, with representatives from all member countries agreeing that the UK has reached the conclusion of its accession process to join the CPTPP.
The UK is the first European country to join the dynamic trade bloc, and the first new member since the CPTPP was created, taking it from a Pacific agreement to a truly global one. Its accession could mean lower tariffs on some exports to the UK which are not already removed through the UK’s bilateral agreements with member countries, including Vietnam.
Iain Frew, British Ambassador to Vietnam, said: "This is an important milestone for the UK's trade relations with Asia-Pacific countries. The UK's accession to the CPTPP will contribute additional economic strength to this progressive and dynamic trade alliance, adding £2 trillion to the combined GDP of the CPTPP bloc.
“It is particularly meaningful that Vietnam hosted the final round of negotiations on UK accession, as we celebrate 50 years of diplomatic ties between the UK and Vietnam in 2023. I am pleased that the CPTPP will complement our bilateral FTA and further boost our growing trade relationship with Vietnam."
Britain’s Trade Commissioner for Asia-Pacific, Natalie Black, said: “Today’s announcement will help British businesses grow their trade with seven dynamic Asia-Pacific economies, particularly Malaysia and Brunei which the UK does not currently have bilateral agreements with.”
The current 11 CPTPP members are Japan, Australia, New Zealand, Vietnam, Canada, Singapore, Mexico, Peru, Brunei, Chile, and Malaysia.
As one of the largest free trade areas in the world, CPTPP accounted for 12% of global GDP in 2021. This is forecast to rise to 15% percent with the UK’s accession, adding substantial value to this huge free trade area, the British government said.
The UK and CPTPP members will now take the final steps required for the UK to formally sign in 2023.
- Read More
Vietnam might launch pilot digital asset exchange in August
A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.
Finance - Fri, August 8, 2025 | 11:25 am GMT+7
Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development
Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.
Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7