Regional Comprehensive Economic Partnership

Lord Fowler Excerpts

Tuesday 15th December 2020 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

We are watching RCEP closely, but at least six ASEAN and three non- ASEAN signatories need to ratify the agreement before it enters into force, and there is then a gap of 18 months before any other country can enter—so it would be many years before it would even be possible for us to consider entry into RCEP.

[The Lord Speaker (Lord Fowler)]

I call the noble Lord, Lord Haskel. Lord Haskel? No? We will move on.

[Lord Purvis of Tweed (LD)]

My Lords, before looking to very long-term ambitions for joining regional economic partnerships, is it not better for the Government to focus absolutely on the trade agreements that we already have and are struggling to roll over? The update from the Government yesterday says that, for the first time that we know of, we will, from 1 January, be trading on WTO terms with countries that we had a trade agreement with before—a real failure of this Government. One of the RCEP countries is Vietnam; when will we see the details for the rollover agreement for Vietnam so that we can debate it in this Parliament and judge whether the Government are performing as they should be?

--- Later in debate ---

[Lord Grimstone of Boscobel (Con)]

My Lords, only a small handful of agreements have not yet been concluded. We are anxious and keen to conclude those but, of course, it takes two to make a trade agreement, and we are in the hands of our partners for the timing of some of those.

[The Lord Speaker (Lord Fowler)]

My Lords, all supplementary questions have been asked, and we now move to the next Question.