Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for International Trade
Mark Prisk
Main Page: Mark Prisk (Conservative - Hertford and Stortford)Department Debates - View all Mark Prisk's debates with the Department for International Trade
(6 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Dr Fox
The Government have recently completed a number of pilot projects on outward direct investment, and ODI can be a major adjunct to our development agenda. I recently visited a Jaguar Land Rover dealership in Johannesburg. It is not only promoting the sale of UK goods abroad, but providing apprenticeships in mechanics and salesmanship for some of the most deprived young people in Johannesburg. Trade and development can go hand in hand.
Mr Mark Prisk (Hertford and Stortford) (Con)
Those who advocate protectionism often claim that free trade means a free-for-all. It is not. May I urge the Secretary of State to make it clear that free trade means trading within the rule of law, with clear remedies to the benefit of everyone?
Dr Fox
The WTO and the rules-based system is under attack, it has to be said, today. If the WTO did not exist we would have to invent it. There is a need for a rules-based system, otherwise we would have a free-for-all. The alternative to a rules-based system is a deals-based system, which might be fine for some of the biggest economies but would not help many of the smaller developing economies. It is our moral duty to ensure that there is fair play across trade.