G8 Summit

Debate between Lord Brittan of Spennithorne and Lord Hill of Oareford

Wednesday 19th June 2013 Lords Chamber

[Lord Brittan of Spennithorne]

Will my noble friend agree that the last time a serious attempt was made to reach a wide-ranging trade agreement between the United States and the European Union it foundered on the absolute refusal of the US regulatory agencies to agree to any degree of mutual recognition, let alone harmonisation, and that unless at the very highest level action is taken to deal with that blockage, this attempt will be no more successful than the last? Is it not therefore absolutely necessary that there should be a focus on this issue?

[Lord Hill of Oareford]

I am sure that that advice from my noble friend is extremely wise. I know how closely involved he has been over the years with many of these negotiations. It is clear that this issue was given a great deal of importance at the highest level, during the conversations between our Prime Minister and the President of the United States at the G8. Obviously we are at the beginning of the negotiations; I think the first meeting is due to start next month. However, I am sure that all those charged with the responsibility of trying to bring about this extremely important deal will know of the history. If they do not, they will have been reminded of it by my noble friend and will bear that in mind as they try to secure this important deal.