Comprehensive and Progressive Agreement for Trans-Pacific Partnership Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Alun Cairns
Main Page: Alun Cairns (Conservative - Vale of Glamorgan)Department Debates - View all Alun Cairns's debates with the Department for Business and Trade
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Alun Cairns Excerpts(1 year, 5 months ago)
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Nigel Huddleston
It trips off the tongue eventually. The hon. Gentleman is underestimating the opportunities, but he has given me the chance to point out one of the key benefits of CPTPP, which is cumulation, with products and parts being used—of course, supply chains can be complex across CPTPP—and still benefiting from the lower tariffs. So there are huge opportunities with CPTPP for the reasons that he outlined.
Alun Cairns (Vale of Glamorgan) (Con)
I congratulate the Minister as well as all the Ministers who have contributed to this significant moment, with the UK striking a trade deal with some of the world’s fastest-growing economies. Does he agree that this provides a great opportunity for all parts of the United Kingdom where we have significant strengths in terms of driving exports? What action is he planning to take to promote the trade deal all around the UK so that manufacturers, food producers and other suppliers take the opportunity that he has provided?
Nigel Huddleston
I thank my right hon. Friend. Again, I really appreciate the recognition that the deal will benefit all nations and all regions of the UK. In Wales, for example, there are currently 281 CPTPP-owned businesses employing more than 16,500 people, and we expect that to go up. There are trade opportunities in so many areas covering both goods and services. That is a really important point: as we negotiate a lot of trade deals around the world, one thing we notice about many of the deals done by the EU on our behalf is that they did not cover services, yet services are over 70% of our economy, so it is great that we are now negotiating deals that fit our modern economy.