CPTPP: Conclusion of Negotiations

Lloyd Russell-Moyle Excerpts

Monday 17th April 2023 Commons Chamber

[Kemi Badenoch]

I thank my hon. Friend for his question. The Federation of Small Businesses has said that there are significant export markets for small UK firms. Once we have signed the agreement and have all the legislation in place, he will be able to talk about the trade utilisation of the agreements that the Department for Business and Trade supports. If Members have businesses in their constituency that want to find out more, the best way to find out the specifics for their sector would be to contact their local DBT—as it is now—representative.

[Lloyd Russell-Moyle (Brighton, Kemptown) (Lab/Co-op)]

I look forward to questioning the Secretary of State on the agreement in more detail at a meeting of the International Trade Committee later this week, because detail is thin on the ground at the moment, although I am sure we will get there. She has mentioned that she cares greatly for sovereignty and the environment. In the negotiations, what concessions were asked for with regard to excluding us from the threat of the ISDS and excluding palm oil, or did our negotiators not even raise those issues?

[Kemi Badenoch]

The key point to explain is that the investment chapter in the agreement includes investor protections, and they are backed by a modern and transparent ISDS mechanism. It is not quite correct to say that there is no protection for investors; we are just doing it in a different way.