Trade: Trans-Pacific Partnership Debate
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Lord Rose of Monewden
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Trade: Trans-Pacific Partnership
Lord Rose of Monewden Excerpts(4 years, 1 month ago)
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Lord Rose of Monewden
To ask Her Majesty’s Government what plans they have to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership; and if they have such plans, when they plan to join.
The Minister of State, Department for Business, Energy and Industrial Strategy and Department for International Trade (Lord Grimstone of Boscobel) (Con)
My Lords, accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a government priority and a key part of our trade negotiations programme. We aim to begin formal accession negotiations next year. Any final decision to apply will consider both the progress of bilateral negotiations with CPTPP members and our confidence that we will be able to negotiate accession on terms compatible with the UK’s broader interests and domestic priorities.
Lord Rose of Monewden (Con) [V]
I thank the Minister for his Answer. Can he tell the House when he expects CPTPP members Australia, New Zealand and Canada, which are also our Five Eyes partners, to support our membership and sign trade deals with us? Also, I welcome the deal with Japan. There is a chapter on SMEs, an ambition I understand the UK has for all other FTAs negotiated. This will help our innovative small businesses break into new markets, but sadly, the Government’s ambition for our global exports is more disappointing. Germany currently exports 47% of GDP, so why are the UK Government happy to set a low bar of just 35% for our exports?
Lord Grimstone of Boscobel (Con)
My noble friend makes very good points. In terms of engagement so far with CPTPP members, the Trade Secretary met with ambassadors and high commissioners to discuss this, had a warm response and recently opened the first meeting between the UK and CPTPP officials to discuss preparations for the UK’s application to join the group. I will take up his point about exports with my colleague the Minister for Exports.