UK-Israel Trade
Debate between Chris Green and Lord Dodds of Duncairn(6 years, 4 months ago)
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Chris Green
As a traditionalist, I will adhere to the convention.
It is no surprise that the first bilateral tech hub was launched by the British embassy in Israel in 2011. The UK-Israel tech hub is one of the first of its kind to promote partnerships in technology and innovation between the two countries. It has generated 175 tech partnerships in deals worth £85 million since it was established, and it has helped to boost the UK economy by an estimated £800 million. I have been to Israel to hear about this excellent initiative, and as we prepare for Brexit it is heartening to hear that this model will be replicated in other countries across the world, ensuring that Britain is well placed in the ongoing tech revolution.
Nigel Dodds (Belfast North) (DUP)
I congratulate the hon. Gentleman on securing the debate. Does he agree that it is gratifying to hear that the UK has prioritised a free trade agreement and trade links with Israel post Brexit? The whole UK—all its countries and regions—should be actively involved in seeking the opportunities that will exist through better UK-Israel trade.
Chris Green
I wholeheartedly agree. As a Greater Manchester and Lancashire MP, I certainly want the north-west of England to participate in this tech revolution, and Northern Ireland certainly should as well. I was born in Ballymena, so I have a personal interest in that.
Other success stories that spring to mind include the landmark £1 billion agreement between Rolls-Royce and El Al in 2016, and I recently heard that the fastest growing Aston Martin dealership in the world is based in Israel.
The UK has signed countless agreements with Israel in science and innovation, and Israeli and British scientists work together every day on cutting-edge research. The Britain Israel Research and Academic Exchange Partnership is a significant part of that, bringing researchers from both countries together to tackle some of the world’s most challenging medical conditions and diseases, including cardiovascular and liver disease, diabetes and Parkinson’s. Each of these research programmes stands to benefit Israeli and British citizens, and no doubt many other people right across the world. That ought to be celebrated.
We should also consider that some 74% of Israeli exports to Britain in 2017 were in the medical equipment and pharma sector. It is undeniable that this relationship keeps Britons healthier, so will the Minister join me in restating the importance of this sector of trade, and will he provide assurances that it will be uninterrupted as we leave the EU?
Israel was one of the first countries that we began discussions with following our vote to leave the European Union. Last year we created the UK-Israel trade working group, which will ensure a smooth post-Brexit transition and is exploring opportunities to maximise further trade.