Asked by: Mark Logan (Conservative - Bolton North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if her Department will open negotiations with the European Union on a no tariff charge for goods and imports.
Answered by Greg Hands - Minister of State (Department for Business and Trade)
The UK has a comprehensive zero-tariff, zero-quota Free Trade Agreement with the European Union that eliminates tariffs on UK imports from and exports to the European Union, subject to goods meeting the relevant rules of origin.
This Government is committed to the ensuring the smooth running of the agreement to the benefit of UK business and consumers, such as via the annual framework of Trade Specialised Committees. For example, on 21st December 2023 HMG announced an agreement with the EU to extend trade rules on electric vehicles saving manufacturers and consumers up to £4.3 billion in additional tariffs.
Asked by: Mark Logan (Conservative - Bolton North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what recent progress her Department has made on connecting innovation ecosystems under the Japan-UK Strategic Economic Policy and Trade Dialogue; and if she will make a statement.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Supported by the Strategic Economic Policy and Trade Dialogue, there is significant work underway across a number of departments and agencies in the UK and Japan to connect our respective innovation ecosystems. This includes organising pitch events, business matching sessions, information exchanges and supporting delegations of innovative start-ups to visit our respective markets. We are also working with external partners. In June, my department announced a new contract awarded to Oxfordshire-based Intralink to run the new UK-Asia Pacific Tech Growth Programme as part of the UK’s Digital Trade Network (DTN). This will help UK tech companies and entrepreneurs to trade across Asia Pacific, with Japan a key market.
Asked by: Mark Logan (Conservative - Bolton North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what recent steps her Department has taken to support trade with Japan.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Japan is one of the UK's closest trade and strategic partners. In 2021, we concluded the UK-Japan Comprehensive Economic Partnership Agreement (CEPA), the first major trade deal that the UK struck as an independent trading nation. We continue to work closely with businesses so they can fully utilise the benefits of this agreement.
We agreed The Hiroshima Accord in May 2023 with Japanese Prime Minister (PM) Kishida, setting the direction of our partnership for the next decade and beyond. During the PM's visit to Japan, leading Japanese businesses committed to invest almost £18 billion into the UK.
This summer, the UK also completed accession negotiations to join the Comprehensive and Progressive Transpacific Partnership (CPTPP), which will strengthen our trading relationship with Japan.
In September 2023, the Secretary of State held the first UK-Japan Economic, Business and Trade Dialogue in which UK Export Finance signed a Memorandum of Understanding with Nippon Export and Investment Insurance, which will support UK and Japanese exporters, including Small to Medium Enterprises (SME's).
Asked by: Mark Logan (Conservative - Bolton North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what progress her Department has made on developing economic relations with the Indo-Pacific region.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
We are putting the UK at the centre of a network of modern relationships in the Indo-Pacific, including through the negotiation and implementation of Free Trade Agreements (such as the UK’s recent accession to the Comprehensive and Progressive Trans-Pacific Partnership). In addition to joining CPTPP, we are breaking down market access barriers for UK businesses which will help to increase exports from UK companies into the Indo-Pacific, and encouraging investment from the Indo-Pacific into the UK that will boost science and technology, clean energy and levelling up objectives. We also introduced the Developing Countries Trading Scheme to provide lower tariffs and simpler rules of origin requirements for exporting to the UK.
Asked by: Mark Logan (Conservative - Bolton North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment she has made of the impact of international trade on Bolton North East constituency.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Department for Business and Trade doesn’t assess the impact international trade on individual member constituencies. Nationwide export support services are in place which can be adapted to meet local needs.
Across all constituencies, we support businesses to gain the confidence and expertise to export. The Export Support Service helps businesses to navigate all export services offered by the Department to open opportunities to succeed through global trade. The Export Academy is a major initiative to build market knowledge and export capability to boost businesses’ global trading capability, supporting the millions of jobs that rely on exporting. In addition, the International Trade Advisory service gives businesses one to one support to take advantage of new global opportunities.