Comprehensive and Progressive Trans-Pacific Partnership (IAC Report)

Debate between Lord Marland and Lord Vaizey of Didcot

Tuesday 19th March 2024 Lords Chamber

[Lord Marland (Con)]

My Lords, I declare an interest as a member of the International Agreements Committee, chaired magnificently by the noble and learned Lord, Lord Goldsmith. I like to big him up because it is good to be kind to the headmaster. You never know, you might catch the selector’s eye every now and then. I am grateful to the noble Baroness, Lady Hayter of Kentish Town, for—

[Lord Vaizey of Didcot (Con)]

She is terrific.

[Lord Marland (Con)]

—giving us the opportunity to have this debate. Yes, she is absolutely marvellous. This could be a Morecambe and Wise show in a minute if my noble friend Lord Vaizey does not shut up—and I know who is wise.

I was interested that the noble Lord, Lord Gardiner, said to us earlier that brevity is to everyone’s advantage. Therefore, I shall try to be brief and let the report itself do the talking. It has been incredibly well constructed by the team and has had a lot of the committee’s time. I am delighted to see so many members and former members here.

I congratulate the Government on this treaty—it is a good step forward. I pay tribute particularly, if he is listening, to the Minister, the noble Lord, Lord Johnson, who travels the world with huge energy. I often find myself following in his wake as I go round in my role as chairman of the Commonwealth Enterprise and Investment Council. I pay tribute to him because he has been the driving force behind this great treaty.

However, let us not kid ourselves—this is not the greatest agreement that has ever been signed. The noble Baroness made the remark that it is a very small amount of balance of trades to affect the United Kingdom. Therefore, we should not get too overexcited. But it is a starting place, and the real prize is, of course, services and financial services, as the noble Lord, Lord Anderson, mentioned. This is the key to the prosperity of this country and will be the real prize for businesses in this country. I want to know what steps the Minister will take to opening up those doors, because that becomes transformative.

It is also a great treaty because there is no doubt that the alignment of free trading nations is incredibly good for diplomatic relations and cordial relationships, and therefore a terrific building block.

There is always some embarrassment for the UK Government about taking the lead on things, but this is a golden opportunity to take a lead and become a key member of this trans-Pacific partnership. I am clear that that is what the other countries want—in the UK being embraced into this arrangement, their desire is to have the UK taking a forefront lead. This will be important, as was referenced earlier, with the inclusion of potential new members, and with the desire of China to become a member—which will have to be scrutinised incredibly carefully. I therefore urge the Government and my noble friend the Minister to tell us in what way the UK Government are going to take the lead. This is an opportunity, a post-Brexit opportunity bar none, if we can take it.

Finally, noble Lords would not expect me to not mention the Commonwealth. Two-thirds of the countries that have signed up to this agreement are Commonwealth countries. Why has the Foreign and Commonwealth Office not taken the initiative and used this as a spring- board for a Commonwealth trade arrangement? That is the second prize that this Government, in a post-Brexit era, should take.

I thank the Minister for everything he has done in achieving what we have done so far.