European Council

Jim Shannon Excerpts

Monday 17th December 2012 Commons Chamber

[The Prime Minister]

That is an alluring prospect, and I am sure that many hands will make light work.

[Jim Shannon (Strangford) (DUP)]

I thank the Prime Minister for his statement. I refer him to the growth and competitiveness part of it and the sentence about “new safeguards that will protect the interests of those countries outside the eurozone.” The United Kingdom of Great Britain and Northern Ireland has strong economic and trading contact with the Commonwealth countries. Will he assure this House that the historic trading links with the Commonwealth will be encouraged to continue and grow within Europe?

[The Prime Minister]

The hon. Gentleman makes an important point. Half our trade is with the European Union, but the other half is with countries outside the European Union. In recent years we have obviously seen very fast growth in that trade with some of the fast-growing BRIC countries—the Brazils, the Russias, the Indias and the Chinas—but we also have very strong relations with our Commonwealth partners. We should be encouraging our trade relations with all those countries. There is also the EU-Canada free trade agreement, which is under negotiation and could bring real benefits to both sides.