UK Exports

Baroness Northover Excerpts

Wednesday 8th March 2017 Lords Chamber

[Baroness Northover (LD)]

My Lords, I thank noble Lords for allowing me to speak in the gap. Like the noble Lord, Lord Popat, I am delighted to serve as a trade envoy, in my case to Angola. I pay tribute to the noble Lord, Lord Marland, who devised the trade envoy network. It is needed now more than ever.

Unlike Ministers, trade envoys can focus solely on their respective countries. They can build relationships with businesses and ministries there and here. This is illustrated by the case of Angola. Angola is an oil-rich country, where BP and the Aberdeen supply chain have major interests. But as oil prices have dropped and reserves are diminishing, Angola, like so many oil-rich countries, is seeking to diversify. It has huge needs in infrastructure and services and enormous potential in hydropower, agriculture and minerals. All are areas in which British businesses have expertise.

UK Export Finance is helping to underpin UK involvement in Angola, as elsewhere. As a result of its involvement in the hydropower sector, a Scottish company which thus far has not worked outside the UK will, in conjunction with a global Spanish company, begin to work and expand in a far different market. There is also our world-class education sector. The Royal Agricultural University is helping Angola’s agribusiness potential. While in Angola, I was able to flag opportunities at the business school at Oxford. I am now about to meet the 11 Angolan students who will, as a direct result, be coming here this year.

As the United Kingdom looks to develop its long-term trade with some of the new and emerging markets, we can and must help to link British business with possibilities in these markets. The trade envoys can help.