Oral Answers to Questions
Gareth Bacon Excerpts(2 years ago)
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Nigel Huddleston
The hon. Lady is correct. She will be aware that the recommendations are due to be published soon; she will understand that I cannot pre-empt today the conclusions of the investigation. As I have said, the TRA is independent and it reviews evidence very carefully indeed. On the hon. Lady’s other question, I would be delighted to meet her to discuss the matter further.
Gareth Bacon (Orpington) (Con)
The Secretary of State for International Trade (Kemi Badenoch)
Yesterday, I returned from Delhi after holding trade talks with my counterpart, Minister Piyush Goyal, during the sixth round of the UK-India free trade agreement negotiations. We agreed that an ambitious, balanced deal that works for both our countries can be reached and should be reached at the earliest opportunity. Meeting key UK and Indian businesses at the UK India Business Council and Confederation of Indian Industry trade conference made clearer still the opportunities that the FTA would create for businesses and future generations in both our countries. I look forward to updating the House at the end of our round.
Gareth Bacon
In 2019, our trade with CPTPP countries reached £110.7 billion, so does my right hon. Friend share my optimism that joining the bloc will increase our national prosperity? Does she agree that free trade and helping businesses such as those in Orpington to export are how we will create genuine, long-term, sustainable wealth?
Kemi Badenoch
I share my hon. Friend’s enthusiasm for CPTPP. Joining CPTPP will offer new opportunities for businesses in Orpington and across the UK. The potential increase to UK GDP is projected to be £1.8 billion. More than 99% of British goods exported will be eligible for tariff-free trade, including in new markets such as Malaysia. Customs procedures will become clearer and more efficient. Firms working in services will have increased market access, greater transparency and predictability.
Oral Answers to Questions
Gareth Bacon Excerpts(2 years, 8 months ago)
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Chris Green (Bolton West) (Con)
Gareth Bacon (Orpington) (Con)
Suzanne Webb (Stourbridge) (Con)
Gareth Bacon
Will my hon. Friend update the House on how manufacturing exports are considered when negotiating free trade agreements?
Mike Freer
We are proud to advance UK manufacturing exports through our free trade agreements programme. For example, with Australia and New Zealand, we eliminated tariffs for 100% of UK manufacturing exports. In almost all cases, tariffs will be eliminated the day that the agreement comes into force. That will save, for example, £34 million of duties for UK car exports to Australia from day one, supporting our levelling-up agenda.