Trade: Trans-Pacific Partnership Debate
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Baroness Noakes
Main Page: Baroness Noakes (Conservative - Life peer)Department Debates - View all Baroness Noakes's debates with the Department for Business, Energy and Industrial Strategy
Trade: Trans-Pacific Partnership
Baroness Noakes Excerpts(4 years, 1 month ago)
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Lord Grimstone of Boscobel (Con)
My Lords, the Government are very keen to reach agreement with the European Union because of the importance that the noble Lord refers to; we are still working very hard on that. We have plenty of other trading partners around the world. If that agreement is not reached, we will trade on WTO terms with the EU. I think that there will be a bright future for this country in any event.
Baroness Noakes (Con)
My Lords, I congratulate the Government on not only obtaining the treaty with Japan but getting Japan’s support for our membership of the Trans-Pacific Partnership. The partnership contains quite significant provisions in relation to state subsidy, competition and investor remedies. Does my noble friend think that these will be insuperable barriers to our membership?
Lord Grimstone of Boscobel (Con)
I thank my noble friend for her question. Of course, we will accede to the CPTPP only if we are happy that the arrangements we are acceding to are in the UK’s interest. We are confident that we will be able to reach that position with its members.