Digital Economy Agreements

Debate between Lord Holmes of Richmond and Earl of Minto

Monday 24th July 2023 Lords Chamber

[Lord Holmes of Richmond (Con)]

My Lords, I beg leave to ask the Question standing in my name on the Order Paper, and declare my technology interests as set out in the register.

[The Minister of State, Department for Business and Trade (The Earl of Minto) (Con)]

My Lords, under the UK’s G7 presidency we brokered the G7’s digital trade principles. Further digital agreements sit at the heart of our agreements with Japan, Australia, New Zealand, EEA/EFTA and CPTPP. Our digital agreements with Singapore and Ukraine are the most innovative trade deals signed. We continue to push our digital objectives at the WTO e-commerce joint initiative and via the digital trade commitments in our suite of upcoming free trade agreements.

[Lord Holmes of Richmond (Con)]

My Lords, does my noble friend agree that digital economy agreements represent the very future of trade? We must ensure particularly that small and medium-sized enterprises are fully aware of this opportunity. Does he further agree that when we put DEAs together with the recently passed Electronic Trade Documents Act, we can really believe that we are on the brink of a new golden age for international trade?

[The Earl of Minto (Con)]

I entirely agree with my noble friend. Our vision is for the UK to be a global leader in digital trade, with an entire network of international agreements that drive economic growth, create jobs and improve productivity throughout the UK.