Electronic Trade Documents Act 2023

Debate between Lord Offord of Garvel and Lord Lansley

Thursday 14th September 2023 Lords Chamber

[Lord Offord of Garvel (Con)]

I thank my noble friend for those comments and questions. This is a quite remarkable Act. In fact, it is the only Act of Parliament that I have read from beginning to end. It is only four pages long and 1,500 words; I recommend it for its brevity and its conciseness. It simply does one thing, which is to take the architecture of 300-plus years of mercantile trading which has been done in paper form and translate that into digital to have the same legal impact. The onus is now on the Department for Business and Trade to communicate this to our SMEs, as my noble friend indicated. To that end, we are using international trade advisers and the International Chamber of Commerce, and we have set up the Centre for Digital Trade and Innovation at Teesside University. A lot of work will now be done to raise awareness of this, which will be for the great benefit of our trade.

[Lord Lansley (Con)]

My Lords, in reading the Act, my noble friend will have realised that reliable systems for authenticating electric trade documents is one of the central operational issues. Will the Government therefore give their full support to the International Chamber of Commerce, which I am glad he mentioned, as it did so much good work in helping to bring this Act forward? Will they also try to put together assurance for what those reliable systems look like that will help traders to trade confidently?

[Lord Offord of Garvel (Con)]

I thank my noble friend for that. I can report that, as the Minister in this area, I have chaired a forum with the International Chamber of Commerce where we are at the forefront of this initiative. By the UK leading the way here, with G7 and others following through, this will become a standard mechanism of trade and will be followed by the new operating border and the single trade window. We will therefore be moving rapidly to 2025 and a situation where trade can be expedited across international markets to the great benefit of our economy.

Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Debate between Lord Offord of Garvel and Lord Lansley

Thursday 20th July 2023 Lords Chamber

[Lord Offord of Garvel (Con)]

The whole idea of the CPTPP deal is precisely to do with free trade and fair trade. That will be very closely monitored within the group. The benefit to our importers and exporters will be considerable, particularly around some of the rules of origin. We will now be in a position to accept goods coming in from these 11 countries, bring them into our supply chains and then export thereafter. The benefits are significant and, in the meantime, fair trade will be monitored, as it always would be.

[Lord Lansley (Con)]

My Lords, does my noble friend agree that the impact assessment may significantly understate the potential economic benefits, for two good reasons? First, there is increasingly a worldwide digital economy and CPTPP has world-leading digital provisions within the agreement. Secondly, we are predominantly a services economy and those services are likely to grow more rapidly in the member countries. Can he further confirm that we will be full members of CPTPP and therefore able to exercise a view, with others, on the membership of any other country, including China?

[Lord Offord of Garvel (Con)]

I thank my noble friend and will take his last point first. Yes, we have just joined the club and the first thing you do when you join a club is not necessarily to comment on its existing or incoming members. We will get to that in due course, I am sure, but when we are fully ratified we will absolutely have a fair voice at the table on the membership. I thank him for raising digital and services because in my new job I am looking carefully at where and how our trade is conducted. There is an obsession with manufactured goods to the EU, but the fastest-growing part of our economy is digital services to non-EU countries. Our economy is moving rapidly to be two-thirds services versus one-third goods. Having a deal in this region, which has a very young and well-educated middle class, all fully digital, will provide a great opportunity to access this market, particularly for our SMEs.