Oral Answers to Questions Debate
Full Debate: Read Full DebateMarco Longhi
Main Page: Marco Longhi (Conservative - Dudley North)Department Debates - View all Marco Longhi's debates with the Department for Business and Trade
(1 year, 5 months ago)
Commons ChamberWe have secured a deal that offers brilliant new opportunities for British businesses by getting an agreement in principle to the comprehensive and progressive agreement for trans-Pacific partnership. Our exporters will have greater opportunities to sell their excellent products to some of the world’s biggest markets in the Americas and Asia-Pacific, with the bloc set to account for 15% of global GDP once the UK joins. It will be easier and less expensive to trade physical products between our countries, and more than 99% of current UK goods exports to CPTPP will be eligible for tariff-free trade.
I congratulate the Secretary of State on the CPTPP agreement, which, among other things, will be a wonderful vehicle to foster better relationships within the Indo-Pacific, as well as being a key region for UK trade. Another key area for trade for the United Kingdom is Latin America, and as the Prime Minister’s trade envoy to Brazil, and having lived and worked there for five years, I have seen first hand the wonderful opportunities available there. Will the Secretary of State update the House on what her Department is doing to build on that trading relationship with Brazil?
I thank my hon. Friend for his outstanding commitment to improving our trade relationship with Brazil in his work as trade envoy, and I wish him well on his upcoming trip to the country. Our bilateral trade with Brazil increased to £7.7 billion in the 12 months ending December 2022, and the signing of the UK-Brazil double taxation agreement in November represents a significant step in enhancing trade across all sectors. There is much we can do with Brazil—I intend to visit the country, hopefully later this year—especially around critical minerals. I look forward to working with the Brazilian Government in due course.