Economy: Business Investment
Debate between Viscount Younger of Leckie and Lord Garel-Jones
Viscount Younger of Leckie
Yes, I have noticed that. Having said that, we are doing much in terms of the Green Investment Bank, which has invested directly and indirectly in 22 projects from five dedicated funds. It has directly committed £791 million, which will mobilise a total of £3.3 billion when fully deployed.
Lord Garel-Jones (Con)
My noble friend will no doubt be aware of the Pacific Alliance treaty signed by Mexico, Colombia, Peru and Chile, which Costa Rica and Panama are shortly to join. Given that this represents the seventh or eighth largest trading bloc in the world, what steps are Her Majesty’s Government taking to encourage trade and investment with this important area?
Viscount Younger of Leckie
My noble friend is right. I am aware of this and the Government are working hard to increase trade in this area. My noble friend Lord Livingston recently headed up a successful trade mission to Colombia and Mexico, with some promising leads. I take this opportunity to congratulate my noble friend Lady Bonham-Carter on her excellent work as the Prime Minister’s trade envoy to Mexico. Exports of British goods to Mexico increased by 51% between 2009 and 2012.