FEA provided vital insight to the government throughout the negotiation process
FEA has welcomed the new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which creates important new trade relationships between the UK and countries in the Pacific region. The Association has been providing information and feedback to the UK Government’s Department of Business and Trade (DBT) throughout the negotiation process, ensuring that the expertise and interests of FEA members were taken into account and helping to create an agreement that improves trading conditions.
The government has prepared a range of resources designed to provide guidance for businesses on how to utilise CPTPP and has asked FEA to promote these to members and the foodservice equipment industry at large. There are over 70 guidance documents covering tariff reductions, business mobility and rules of origin along with sector specific information and documents covering commercial opportunities available within these markets. Alongside these the government has created an online tool providing information about the rules for exporting to specific countries, as well as an import duty/tariff checker and a tool for checking the availability of tariff rate quotas.
“FEA has an ongoing relationship with HM Government departments including the Department of Business & Trade (DBT), and we have been pleased to see this new trade agreement materialise,” says John Cunningham, chief executive of FEA. “DBT regularly seeks advice and input from FEA about the trading challenges that the foodservice equipment sector faces. FEA, supported by our members, has provided some critical input about our experiences of international trade that has helped DBT to negotiate these improved terms.”
The CPTPP entered into force between the UK and Japan, Singapore, New Zealand, Chile, Peru, Malaysia, Vietnam and Brunei on 15th December 2024. Australia entered into force on 24th December 2024. Canada and Mexico have yet to ratify the UK’s accession to CPTPP, so the agreement will not currently apply to those countries.
“We are delighted that the government has achieved a wide agreement to join the Pan-Pacific Partnership,” says John. “It covers some markets that are extremely important to FEA members. The improved tariffs and support for exports will help UK manufacturers become more competitive in these markets, which will be particularly welcome given the challenges facing the UK economy.”