Olympic and Paralympic Games 2012: Trade and Investment

Lord Foulkes of Cumnock Excerpts

Tuesday 16th October 2012 Lords Chamber

Asked By

[Lord Foulkes of Cumnock]

To ask Her Majesty’s Government what trade and investment successes were achieved as a result of contacts with representatives of Governments attending the Olympic and Paralympic Games.

[The Parliamentary Under-Secretary of State, Department for Business, Innovation and Skills (Lord Marland)]

My Lords, during the 2012 Games, UK Trade and Investment ran an extensive business programme at the British Business Embassy at Lancaster House. The programme specifically targeted UK and international companies and is expected to deliver £1 billion of additional sales to the UK companies that attended the British Business Embassy. We will report progress in April 2013. The Olympics also gave an opportunity for Ministers to build good relationships intergovernmentally with our cross-party people to benefit trade.

[Lord Foulkes of Cumnock]

My Lords, that is a very welcome and encouraging response. However, does the Minister share my concern and alarm at reports today that the consulate in Basra is to be closed? It is a centre of British influence that is vital for British investment. Will he inform the House whether these reports are true and, if they are, will he seek to have that very unwise decision reversed as quickly as possible?

[Lord Marland]

I can confirm that reports about that decision are true. The decision was made after a lot of business plan reviews, which one would expect from any government organisation. Things have improved dramatically out there. It used to take 48 hours to get from Baghdad to Basra; it now takes an hour by plane, so it is much easier to get to. As regards the future in that part of the world, we believe that we should have an office in Erbil for the Kurdistan region and boost our office in Baghdad. This is being done with great consideration and I think that the noble Lord will be able to see the effects of it later.