Oral Answers to Questions

Debate between Bim Afolami and Mark Field

Tuesday 22nd January 2019 Commons Chamber

[Bim Afolami (Hitchin and Harpenden) (Con)]

T10. Will the Foreign Secretary update the House on his assessment of our relationship with China, particularly in respect of financial services in the City of London?

[Mark Field]

The City of London’s connections with China form an essential part of our overall bilateral relationship, and we look forward to proceeding with an ambitious commercial agenda during 2019. As my hon. Friend will know, the City is already the world’s leading offshore trading centre for the renminbi. It engages in more than 40% of global trading, even more than Hong Kong.

Oral Answers to Questions

Debate between Bim Afolami and Mark Field

Tuesday 27th March 2018 Commons Chamber

[Bim Afolami (Hitchin and Harpenden) (Con)]

5. What plans the Government have to strengthen links with the OECD after the UK leaves the EU.

[The Minister for Asia and the Pacific (Mark Field)]

Never let it be said that my hon. Friend does not have his finger on the pulse of his constituents. I am sure they talk of little other than the OECD in the Stockbrokers Arms in Harpenden. This country is a founding member of the OECD, and I am pleased to confirm our strong links with it, which will continue to go from strength to strength after Brexit. I visited the OECD in Paris earlier in the month, when I reiterated our firm support for the visionary future programme.

[Mr Speaker]

I am glad the Minister does not underestimate the sophistication and cerebral quality of the hon. Gentleman’s constituents—that is very important.

[Bim Afolami]

Thank you, Mr Speaker. I shall take this back to the Stockbrokers Arms in Harpenden this evening. Will the Minister expand further on what the Government have been doing within the OECD to build up bilateral relationships within that multilateral organisation, to prove that this country is still at the forefront of international institutions?

[Mark Field]

I should point out that I was in no way saying anything untoward about Harpenden, which is indeed the most middle-class, and probably Tory-voting, town in the whole UK. [Interruption.] Dear, oh dear. As I am sure Opposition Front Benchers will be well aware, the OECD has a crucial role to play in global regulation, enabling trade and investment and driving forward a number of important G20 initiatives. In the coming months, we expect to have a renewed commitment from the OECD and its members to continue to open global markets, particularly through the trade in services, and to explore new issues, including digital trade.