UK Labor Party Shadow Treasury Secretary Pat McFadden has expressed “cautious support” for the UK’s deal to join the Trans-Pacific Partnership, Sky News reported on March 31.
He told Sky News that sometimes the details of trade agreements signed by the government “It’s not as profitable as the government claimed at the beginning.”
“We support free and open trade, so we welcome you, but also be careful. Because what we’ve seen in recent years is that when the government signs trade deals, very often, if you look at the details, they’re not as beneficial as the government initially claimed., – he said. — But at first glance, this may provide us with new opportunities to trade with fast-growing economies around the world.”
By the end of the decade, trade growth in the region is said to be equivalent to around £1.8 billion.
Asked if Labor would stick to the deal if they came to power, McFadden said that “really important”so that international partners do not think that the agreements signed with the current administration will be broken “successor”.
He pointed to the damage done to the UK’s international reputation by a government threatening to unilaterally cancel part of its deal with the EU.
“This is not the approach the Labor Party or the Labor government would take”McFadden said.
Also read: The United Kingdom announces its accession to the Trans-Pacific Agreement on Economic Cooperation
Source: Rossa Primavera
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