Oral Answers to Questions Debate
Full Debate: Read Full DebateHeather Wheeler
Main Page: Heather Wheeler (Conservative - South Derbyshire)Department Debates - View all Heather Wheeler's debates with the Department for Business and Trade
(1 year, 5 months ago)
Commons ChamberWe are currently negotiating accession to the comprehensive and progressive agreement for trans-Pacific partnership, a bloc worth £9 trillion of global GDP in 2021. As part of that, our businesses will get enhanced access to the Malaysian market for the first time. Beyond CPTPP, we are continuing negotiations on the UK-India free trade agreement and working to implement FTAs with Australia and New Zealand, in addition to existing trade dialogues with Indo-Pacific partners.
I do agree, and I would like to thank my right hon. Friend for his tireless work as the trade envoy to promote closer trade links with the Republic of Korea. Our trade relationship with Korea is thriving, no doubt thanks to all his hard work. It amounted to about £14 billion in 2021, much of which is in critical goods such as microchips, cars and pharmaceuticals. It is currently supported by our 2019 FTA, so we are going to start discussions with Korea to review how we can make the FTA even stronger, ensuring it continues to support existing trade and create new opportunities for British business.
Further to my right hon. Friend’s reply, what more specifically can she say about what help His Majesty’s Government is giving to South Derbyshire and British businesses as a whole to take advantage of trade opportunities in Cambodia and Laos?
I thank my hon. Friend for her question. We have increased the tempo of trade missions in Cambodia, and we are actively supporting British companies to expand operations in the education, infrastructure and sustainable energy sectors. In May 2022 the Department appointed a new export support service trade officer to help British companies, including those in her constituency, that wish to export to Laos. It is also eligible for preferential treatment under the developing countries trading scheme. Both initiatives will help boost the UK’s trade with Laos, and I look forward to working with my hon. Friend on improving relations with that country.