Member

I should mention the CPTPP before I close. It is a trading bloc of 11 countries with global trade now shifting to the Indo-Pacific. It accounts for around 12% of today’s global GDP. With the UK coming in as its 12th member, it is estimated to increase the CPTPP share of global GDP to 15%. By 2050, the estimated proportions will be 25% of global GDP for the CPTPP, by contrast with the EU’s, which is declining from a current 12% or 15%, depending on which figures and the year, to 10% in 2050. For these reasons, I hope that the Minister will reconsider closing our opportunities worldwide by linking us to a shrinking market, where growth and jobs are declining. This is in contrast to the great growth opportunities that Brexit allows us with our new trading partners.