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IV.III. NEW CHALLENGES TO JAPAN DEVELOPMENT: THE FIGHT FOR INFRASTRUCTURE DEVELOPMENT CONTRACTS IN ASIA
‘Beyond the Galapagos Syndrome ’ : Mapping the Future of UK-Japan Economic Cooperation
Luke Cavanaugh (ed.), Olivia Bisbee, Owain Cooke, Kezzie Florin-Seon, Elizabeth Steel
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CPTPP would likely increase this further and benefit the British economy. 72 If
the UK becomes a member of the CPTPP, up to 99.9% of its exports could be
tariff-free with members, allowing for lower tariffs on popular exports including
whiskey and cars. Membership would also enable Britain to export more meat
products such as beef and lamb to a region which is estimated to comprise up to
25% of global import beef demand by the end of the decade. Similarly, as the
world’ s second-largest global services exporter, the UK could also benefit from
facilitated digital trade, streamlined data rules, and expand its technological
sector to the Asia-Pacific region, aided by lower barriers to market entry and
more legal certainty. 73 The Asia-Pacific region is predicted to be home to 65% of
the world’ s middle-class consumers by 2030, making it a key location for British
businesses to establish themselves. 74
The Department for International Trade ’ s report on the UK’ s approach to
joining the CPTPP also highlights that if Britain is accepted as the first new
member of the pact, it will be in a position to shape its future expansion and
development, a point of particular importance as China has also since applied
for membership in September 2021. This will be a keenly-watched issue as its
accession would involve significant new regulations to be applied to its trade
72 Department for International Trade, ‘UK Accession to CPTPP: The UK’ s Strategic Approach’
(June 2021) https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment _ data/fil
e/995485/cptpp-strategic-case-accessible-v1.1.pdf accessed 17 October 2021
73 Panda, 'Japan-UK:
'Progressive ' Ties and a Case for Britain in the CPTPP' , p.7 74Department for International Trade, ‘UK Accession to CPTPP: The UK’ s Strategic Approach’ 34
