St Petersburg International Economic Forum

Lord Wallace of Saltaire Excerpts

Monday 30th April 2018 Lords Chamber

[Baroness Fairhead]

I agree that engagement matters and that we need to continue engagement to make sure that ultimately we get a good outcome. It is true that we have suspended all planned high-level bilateral contact with Russia, but we are not restricting all engagement. Indeed, we encourage engagement in areas of common interest such as culture, education, sanctions-compliant business, environmental protection and climate change. The important message is: engage, but beware. It is a calibrated response, but I agree with the noble Lord that engagement matters in these situations because that is how we will get a positive outcome.

[Lord Wallace of Saltaire (LD)]

My Lords, what advice is the Department for International Trade giving to British business about the peculiar political and legal complications of operating in Russia for either trade or investment? The Bribery Act and various other things clearly come into play. Are special forms of advice being offered to British business in these circumstances?

[Baroness Fairhead]

I thank the noble Lord for his question. I can confirm that specialist advice is available. We have special advice from the DIT in London and the British embassy in Moscow. Indeed, a number of other expert organisations, such as the Russo-British Chamber of Commerce, can also offer advice, as can a number of individuals in this Room. Advice is available: the DIT offers it and it can be accessed on location in Moscow, too.

Brexit: Trade Agreements

Lord Wallace of Saltaire Excerpts

Thursday 18th January 2018 Lords Chamber

Asked by

[Lord Wallace of Saltaire]

To ask Her Majesty’s Government how they intend to avoid limitations on United Kingdom sovereignty in negotiating trade agreements with other states after the United Kingdom leaves the European Union.

[The Minister of State, Department for International Trade (Baroness Fairhead) (Con)]

My Lords, after leaving the EU, it will be the UK Government, not the EU, who will decide what trade agreements to pursue and what the contents of those agreements will be. Decisions on all future trade agreements will be made here in the UK, based on what is in the best interests of the UK.

[Lord Wallace of Saltaire (LD)]

My Lords, unless we go for unilateral free trade, I assume that trade agreements will be a bargain between the UK and others, in which we will have to make concessions, which will affect domestic law. Does the Minister recall that the Indian Government, for example, have made it clear that they would expect concessions on freedom of movement, which would affect British migration policy, in return for a trade agreement? Does she recall the US Commerce Secretary saying that he would expect the UK to move towards accepting US regulations, instead of EU regulations, in phytosanitary and other areas, in return for a trade agreement? Does she recall that the NAFTA trade agreement allows US multinationals to sue in foreign courts, and that Eli Lilly is currently suing in Canadian courts, demanding that Canada changes its domestic patent law? Are those not all incursions on sovereignty?

[Baroness Fairhead]

I thank the noble Lord for his question. What I can say is that, for the first time in 40 years, we will have the ability to operate an independent trade policy. We will be negotiating on behalf of the UK, in the interests of the UK. Clearly, any trade agreement is a negotiation between two parties, but we will always ensure that all parts of the UK are taken into account when we negotiate to benefit the UK as a whole. That is why we would undertake those trade agreements.

Bilateral Trade: Sri Lanka

Lord Wallace of Saltaire Excerpts

Tuesday 28th February 2017 Lords Chamber

[Lord Price]

I agree with my noble friend that the economic situation in Sri Lanka is improving. We are delighted to see the growth forecast of 5.5%. It is also heartening that exports from the UK to Sri Lanka increased by 46% in 2015 and exports from Sri Lanka to the UK stood at £1.1 billion. More than 100 UK companies have an affiliation in Sri Lanka. I am delighted that the UK Government are keen to support Sri Lanka moving to the GSP Plus scheme, which will remove tariffs on 66% of goods. At the Commonwealth meeting that we are holding next month we hope to think more about how we can strengthen those ties. There are no plans to have a trade envoy for Sri Lanka but we will continue to work with it to improve our trade relationships.

[Lord Wallace of Saltaire (LD)]

My Lords, the Minister puts a great deal of stress on the Commonwealth as a framework. We have heard a great deal from the Government about how the Commonwealth, as a network, is going to replace Europe as the driver for British exports. Will he give us some specific examples of cases where membership of the Commonwealth has inclined the Sri Lankan Government or companies in Sri Lanka to favour the British against others in particular contracts?

[Lord Price]

We believe that there are extensive opportunities to improve trade throughout the Commonwealth, and that is what our meeting next week is going to draw out. The Prime Minister has already announced working groups with Australia, New Zealand and India. We want to work with all 52 countries in the Commonwealth on how we can drive forward the best possible trading relationships. There are many ways that can be done. They can be unilateral arrangements; they can be EPAs or FTAs. We need to consider for each country what is in their best economic interests and those of the Commonwealth.