Oral Answers to Questions
Marco Longhi Excerpts(12 months ago)
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Kemi Badenoch
We are aware of the situation, and are working on it—negotiations to resolve it are actively ongoing. UK cheese is in increasing demand in Canada, and exports of UK cheese benefit businesses on both sides of the Atlantic. The UK has made continued and repeated efforts to find a solution since negotiations began, including by seeking an extension to the current arrangements, and we are clear that the UK is rightly entitled to ongoing access to Canada’s World Trade Organisation cheese tariff quota under our rights and obligations at the WTO.
Marco Longhi (Dudley North) (Con)
As the Prime Minister’s trade envoy to Brazil, I know that the best way of supporting exports from my Dudley businesses is to remove barriers to trade. That is why I was absolutely delighted when both our countries signed a double taxation agreement, in good faith and to the highest possible standards. There appear to be complications in Brazil at the moment with ratifying that agreement through Congress, as we have ratified it through our Parliament. What more can Ministers—the Chancellor of the Exchequer, perhaps—do to try to persuade Brazil that it is indeed a very good deal for itself as well?
Greg Hands
First, I praise my hon. Friend for the amazing job he does as the Prime Minister’s trade envoy to Brazil. Partly due to his efforts, UK-Brazil trade has increased by 33% in the past year alone, so we are doing a very good job there. The UK-Brazil double taxation agreement was passed into UK law in June, and is estimated to be worth hundreds of millions of pounds to the UK. I hope that Brazil ratifies the agreement soon: it is very much in its own interests as well. As my hon. Friend knows, the Chancellor has made very strong representations to that effect, and we look forward to strengthening our trade relationship at the next UK-Brazil joint economic and trade committee next year.
Oral Answers to Questions
Marco Longhi Excerpts(1 year, 6 months ago)
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Marco Longhi (Dudley North) (Con)
The Secretary of State for Business and Trade (Kemi Badenoch)
We 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.
Marco Longhi
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?
Kemi Badenoch
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.