Regional Comprehensive Economic Partnership

Lord Bilimoria Excerpts

Tuesday 15th December 2020 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

My Lords, I have learnt that it is not easy to give answers that are completely up to date in relation to the EU negotiations. Noble Lords realise that these negotiations are proceeding, and a Statement will no doubt be made as to their conclusion in due course.

[Lord Bilimoria (CB) [V]]

My Lords, UK trade with CPTPP members is £110 billion—more than our trade with China. Does the Minister agree that UK accession to the CPTPP would be a clear display of intent that the UK would continue to back the international rules-based trading order after leaving the EU? Does he also agree that it would display that it intends to remain an open economy—and, therefore, securing an EU deal is all the more important to press on to seize these opportunities? Will he confirm that, with India not being a member of either the CPTPP or RCEP, the Government will make the most of the Prime Minister’s forthcoming visit to India to fast-track an FTA with India?

[Lord Grimstone of Boscobel (Con)]

My Lords, I completely agree with the noble Lord’s comments in relation to India and am very pleased to be able to say that the UK and India have agreed to pursue an enhanced trade partnership, which is, of course, the first step to a wider road map to deepen trade ties. This is an ambitious approach, and I look forward to it moving to a conclusion in due course.