Bilateral Free Trade Agreements

Debate between Lord Johnson of Lainston and Baroness Hooper

Tuesday 20th December 2022 Lords Chamber

[Lord Johnson of Lainston (Con)]

I thank the noble Baroness for that point, which was well raised. That is exactly what our negotiating teams are doing. This deal with India will be significant for us. That nation should be the second-largest economy in the world at some point over the next five to 10 years; we want a close relationship with it, but on the right terms. I appreciate her comment.

[Baroness Hooper (Con)]

My Lords, in drawing attention to Latin America, I refer to my interests in the register. I believe that Chile was the first country, if not in the world then certainly in Latin America, to sign up to a new free trade agreement post Brexit. It was basically a rollover agreement. Given that the Government are negotiating a new trade agreement with Mexico, can my noble friend say whether the same is intended for Chile?

[Lord Johnson of Lainston (Con)]

I greatly appreciate my noble friend raising that question—and her debate last night—and encouraging attention on central America. I thank her for the work she does as our trade envoy to those countries. Chile is a very important country for trade with the UK. I am very pleased to say that I attended, along with Minister Rutley, a Chile financial services conference only three days ago. Clearly, we have a number of free trade agreements to enact and an extremely busy schedule. When the opportunity comes for us to expand further on the incredible list I have already presented to the House, I have no doubt that countries such as Chile will be under consideration.