St Petersburg International Economic Forum

Debate between Baroness Fairhead and Viscount Waverley

Monday 30th April 2018 Lords Chamber

[Baroness Fairhead]

I thank my noble friend. It appears that Prime Minister Abe and President Macron will be attending and there is a whole series of bilateral ministerial levels in Russia. In line with government guidance, there will be no ministerial representation. However, I can confirm that Her Majesty’s ambassador to Russia will be there. He will be present to meet, greet and support our UK businesses. That is part of a calibrated response to signal that we are unhappy about what has happened, while at the same time making sure that we support our businesses. That sort of engagement is critical to making sure that there is engagement between businesses and people.

[Viscount Waverley (CB)]

My Lords, while recognising the sensitivity of the timing, I declare that last week, St Petersburg International Economic Forum organiser, Roscongress, requested that I assess and advise, at no cost, on trade-only related matters to encourage interaction sector to sector in addition to SME co-operation with the UK. Does the Minister agree that restricting all engagement with Russia is probably self-defeating? As the Government push towards a truly global Britain, in which UK private sector corporates must compete in the international marketplace, fully cognisant of bilateral and multilateral sanctions, would it not be circumspect for the Government’s approach to trade policy to be distinct from other tiers of government policy?

[Baroness Fairhead]

I agree that engagement matters and that we need to continue engagement to make sure that ultimately we get a good outcome. It is true that we have suspended all planned high-level bilateral contact with Russia, but we are not restricting all engagement. Indeed, we encourage engagement in areas of common interest such as culture, education, sanctions-compliant business, environmental protection and climate change. The important message is: engage, but beware. It is a calibrated response, but I agree with the noble Lord that engagement matters in these situations because that is how we will get a positive outcome.

Secretary of State for International Trade: Visits

Debate between Baroness Fairhead and Viscount Waverley

Monday 30th April 2018 Lords Chamber

[Baroness Fairhead]

Exports grew overall by more than 10% last year so there has been growth. Regarding how long it will take a free trade agreement to come into effect, we will be able to negotiate future free trade agreements from March next year as part of the implementation period. We will be able to negotiate, sign and ratify without implementing. There are a whole range of free trade agreements that can take anything from a year to multiple years. There are also many other types of cooperation that we are looking at, as noble Lords will be aware, such as joint trade reviews, economic partnerships and mutual recognition agreements. There are a whole series of trade arrangements we can have with other countries and we are looking at those. Our drive will be what is in the best interest overall of the UK and UK business.

[Viscount Waverley (CB)]

My Lords, I understand the Minister’s department is rolling out a programme of trade commissioners. What is their role? Are they going to be masters of their strategy? When will this possibly take effect from, and will they be properly financed?

[Baroness Fairhead]

I thank the noble Viscount for his question. We have announced the creation of nine Her Majesty’s trade commissioners. It is a pretty important role. We are trying to coordinate all the opportunities we have from UK companies exporting to overseas markets. They are very high level trade commissioners. Five of them have already been appointed and generally, they have been recognised as people of extreme competence who will have a real impact. Their role is to make sure that other nations are very aware of the capabilities we have in our country. We are very clear that our export strategy needs to be linked to our industrial strategy, so that the world can benefit from what we can provide in the UK and is made aware of the skills and expertise in this nation.

United States Tariffs: Steel and Aluminium

Debate between Baroness Fairhead and Viscount Waverley

Tuesday 13th March 2018 Lords Chamber

[Baroness Fairhead]

I absolutely agree with my noble friend Lord King. Very strenuous representations will be made. We think these tariffs have a very weak legal basis, and the EU deems that this will enable some countermeasures and, possibly, safeguards to be put in place. We need to engage with this very important friend and ally to make sure we get above this and move on to the agenda of building wealth right across the world, and make sure that we have a sensible global approach to global problems.

[Viscount Waverley (CB)]

My Lords, when the Government consider which debating points to put before the United States, and to President Trump in particular, they might wish to remind him of his policy of putting America first. Will the Minister put on record, with supporting evidence, why these measures are detrimental to all US businesses?

[Baroness Fairhead]

There are studies available. I mentioned a US trade body which represents downstream industries that think they will be negatively affected and that the net effect on US jobs will also be negative—its study is already a public document. We are trying to avoid protectionist measures that stop the further development of economic trade and of developing countries. The latter could provide a ratchet effect and bring us all up together.