UK seeks to join the Asia-Pacific free trade pact

The UK is formally applying to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). The free trade pact which includes Australia, Canada, Japan and New Zealand generates around 13% of the world's income and covers a market of approximately 500 million people. International Trade Secretary Liz Truss says the UK will make a formal request on Monday, with negotiations expected to begin this spring.