Comprehensive and Progressive Agreement for Trans-Pacific Partnership Debate
Full Debate: Read Full DebateDarren Jones
Main Page: Darren Jones (Labour - Bristol North West)Department Debates - View all Darren Jones's debates with the Department for Business and Trade
(1 year, 1 month ago)
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I call the Chair of the Business and Trade Committee.
UK car manufacturers are currently changing their supply chains to buy components from either the EU or the UK so that they can continue to export their cars into the EU. However, under CPTPP, those same companies ought to be buying parts from Vietnam to export their cars to Mexico. That is quite confusing. Will the Department publish guidance for business that highlights the regulatory conflicts between trade with the European Union under the trade and co-operation agreement and trade with members of the CPTPTPP? Sorry—you know what I meant. [Laughter.]
It trips off the tongue eventually. The hon. Gentleman is underestimating the opportunities, but he has given me the chance to point out one of the key benefits of CPTPP, which is cumulation, with products and parts being used—of course, supply chains can be complex across CPTPP—and still benefiting from the lower tariffs. So there are huge opportunities with CPTPP for the reasons that he outlined.