Bilateral Free Trade Agreements

Lord Browne of Ladyton Excerpts

Tuesday 20th December 2022 Lords Chamber

[Lord Johnson of Lainston (Con)]

I take that question with great sensitivity. It is very important to separate the two concepts. In these FTAs, we have a great focus on labour rights, which are more relevant to the concept of product arbitrage. That is more relevant in looking at the FTAs and the good work we can do to align our values with the sorts of countries that the noble Lord, Lord Purvis, wanted us to do more trade with, rather than those that do not necessarily share our values and are not aligned with our security direction.

[Lord Browne of Ladyton (Lab)]

My Lords, may I ask the Minister what aspect of a free trade agreement with the 56,000 people who live in Greenland will contribute to us being a global superpower?

[Lord Johnson of Lainston (Con)]

Every country has its advantages, as the noble Lord will know if he has read his Ricardo. Greenland is actually one of the greatest exporters in the world of fresh-water prawns, so when he looks forward to his prawn cocktail sandwich in the Lords Dining Room, he will be grateful for the free trade agreements that we have negotiated. I add that the geostrategic importance of FTAs is not to be underestimated. Some smaller countries that fit within our trading ambitions are extremely relevant to us in the alliances we are now creating as the next trading superpower.