Foreign Policy: Support for UK Businesses in Global Trade
Debate between Earl of Courtown and Baroness Corston
The Earl of Courtown
My noble friend is quite right about these various groups looking at trading opportunities in the future. In particular he mentioned the Commonwealth. We are committed to working with our friends and allies in the Commonwealth. One must not forget that in March 2017 the International Trade Secretary and the then Minister, my noble friend Lord Price, had lead roles in the first Commonwealth Trade Ministers’ meeting, which brought together more than 35 Commonwealth countries.
Baroness Corston (Lab)
My Lords, last week the US Secretary of Commerce, Wilbur Ross, spoke at the CBI conference. He said that the United States could become the United Kingdom’s number one trading partner post Brexit so long as we abandoned EU-style regulations and standards. Will this be the Government’s approach?
The Earl of Courtown
I cannot answer the whole question, but the noble Baroness will be perfectly aware that the United States is already our largest trading partner.