Oral Answers to Questions

Andrew Rosindell Excerpts

Thursday 7th March 2024 Commons Chamber

[Andrew Rosindell (Romford) (Con)]

5. What steps she is taking to increase trade with Commonwealth countries.

[The Minister for Trade Policy (Greg Hands)]

The United Kingdom has trade deals with 33 Commonwealth countries, and our new developing countries trading scheme offers more generous tariffs, rules of origin and trading conditions to developing countries, including 19 Commonwealth countries. The UK-Australia FTA has seen sharp rises in many UK export sectors, including furniture tripling year on year and car exports doubling. Meanwhile, of the 11 parties to the comprehensive and progressive agreement for trans-Pacific partnership, six are Commonwealth countries, and that agreement gives us new or improved access to those important markets.

[Andrew Rosindell]

Mr Speaker, I know that you will be celebrating Commonwealth day on Monday with the raising of the Commonwealth flag. Will the Minister take this opportunity to expand our trading relations with the Commonwealth and look at the idea of an opt-in, opt-out WTO-style organisation involving all Commonwealth countries? Surely this is a great opportunity to expand our trade with some of the world’s emerging economic powerhouses.

[Greg Hands]

I thank my hon. Friend for that question and his commitment to the Commonwealth. As a constituency MP with a huge Commonwealth diaspora in Chelsea and Fulham, I totally understand his sympathies and look forward to celebrating Commonwealth day with him and others next week. He knows that the Commonwealth does not make trade rules, nor is it a trade agreement body like the Gulf Co-operation Council, the European Free Trade Association or the CPTPP. We think that the better course at present is to ratify our CPTPP membership and continue to have reduced tariffs under our developing countries trading scheme. However, we are always open to new ideas at the Department for Business and Trade and I am happy to meet my hon. Friend to discuss this further.

--- Later in debate ---

[Kemi Badenoch]

UK Export Finance does not give the money; it provides guarantees to loans that are being provided by banks. There is quite a significant distinction: we have not given that money; we have guaranteed a loan. The reason why we provide those guarantees is that they guarantee jobs to British businesses. There is a big difference between a loan guarantee and giving money. If he would like more of an explanation on that, we are happy to provide one to him.

[Andrew Rosindell (Romford) (Con)]

T5. As chair of the British-Switzerland all-party parliamentary group, I am delighted to commend the Government on the forthcoming new trade agreement with Switzerland, but will the Secretary of State please update the House on progress? Particularly, will she tell us which of the 20-plus working groups the Government intend to prioritise as part of the negotiations?

[The Minister for Trade Policy (Greg Hands)]

I thank my hon. Friend, who is a leading member of the British-Switzerland APPG, for his interest. Both the Secretary of State and I met the Swiss Trade Minister in Abu Dhabi last week. The trade talks are progressing well. We are seeking high-ambition outcomes in all areas, including services and investment, mobility, digital, and the environment, which are not covered by our existing FTA. In short, there are a large number of high-priority areas for us, building on the agreement that we did on financial services in Bern at the end of last year, to ensure that this UK-Switzerland FTA really takes forward the bilateral trade relationship. The fourth round of negotiations is taking place in Bern this week.