Oral Answers to Questions

Debate between Geoffrey Clifton-Brown and Mark Garnier

Thursday 6th July 2017 Commons Chamber

[Geoffrey Clifton-Brown (The Cotswolds) (Con)]

2. What steps he is taking to encourage businesses to take advantage of new opportunities for international trade.

[The Parliamentary Under-Secretary of State for International Trade (Mark Garnier)]

The Department for International Trade provides market access, support and advice to UK business in the UK and in 109 markets overseas. Through the GREAT campaign, we build the global appetite for British goods and services, and give UK companies access to millions of pounds’ worth of potential business through the digital services offered on the GREAT.gov.uk digital platform.

[Geoffrey Clifton-Brown]

It is a great tribute to my hon. Friend’s Department that in the first year of its operation, the Office for National Statistics reports that exports went up by a huge 7% to £548 billion. Does he agree that with the increase in demand for British exports, UK Export Finance, with its widened role, has an important part to play?

[Mark Garnier]

My hon. Friend is absolutely right to raise that matter. I thank him for the work he does on the all-party parliamentary group for international trade and investment. He is absolutely right that the Department for International Trade needs to provide a suite of services, and that includes UK Export Finance. Some 7,000 businesses have been helped by UK Export Finance, the appetite for risk has been doubled and we have increased the number of currencies we can use from 10 to 40, from the Australian dollar to the Zambian kwacha. That is part of a very wide range of things and we have been successful so far.