UK-Ukraine 100-year Partnership

Mark Sewards Excerpts

Monday 20th January 2025 Commons Chamber

[Mr Lammy]

I know that the hon. Gentleman understands history. He will know that after the second world war, we were in quite a lot of debt to the United States as a result of lend-lease, which it took us many years to pay off. Today, no trading relationship of ours is bigger than that with the United States: it totals over $300 billion, with $1.2 trillion invested in each other’s economies, and 1 million British people working in US companies and 1 million Americans working in British companies. This partnership sets up something similar for the next 100 years. It is the result of war, but it has brought our two nations together. He is absolutely right to centre on how we can better use those Russian assets. That is a matter of close discussion across the European family.

[Mr Mark Sewards (Leeds South West and Morley) (Lab)]

I welcome the Government’s commitment to 100 years of friendship with the people of Ukraine. In pillar 4, which talks about economy and trade, there is a commitment to “broaden mutual market access” and raise

“awareness and utilisation of the UK-Ukraine Free Trade Agreement”.

How long will it take for that work come into effect and for both countries to benefit from it?

[Mr Lammy]

I am so glad that my hon. Friend has drawn attention to pillar 4. That allows me to remind the House that the Prime Minister announced £40 million for a new economic recovery programme, which will create opportunities for UK companies by supporting key growth sectors in Ukraine. That is the bedrock of an enhanced trade and investment opportunity, and eventually a trading relationship when Ukraine gets back to the normality that I know it is so keen to achieve.