Oral Answers to Questions

Debate between Nigel Huddleston and Nicola Richards

Thursday 29th June 2023 Commons Chamber

[Nigel Huddleston]

I am, quite frankly, astounded by the hon. Gentleman’s comments. He is well aware, as I have said repeatedly and is widely acknowledged, that the trade deals we have developed, including with Australia and New Zealand, are economically beneficial right across the UK, including in his constituency. If he does not wish to support policies that are in the best economic interests of his constituency, that is something his constituents probably need to recognise come the next election.

[Nicola Richards (West Bromwich East) (Con)]

5. What progress she has made on negotiating a bilateral free trade agreement with Israel.

[The Minister for International Trade (Nigel Huddleston)]

We are continuing to make progress towards an upgraded UK-Israel free trade agreement, focused on services, procurement and innovation, and we concluded the second round of negotiations on 17 May. As two service-driven economies, this negotiation is an excellent opportunity to build on our existing goods-focused agreement, particularly to boost trade in services with an innovative, high-tech nation such as Israel.

[Nicola Richards]

The UK’s trade with Israel increased by 42% in 2022 compared with 2021, and it is valued at £7.2 billion. Israel is a key trade and security partner in the region, and it is a world leader in many areas. Can the Minister update the House on the Department’s progress on the trade aims outlined in the 2030 road map for UK-Israel bilateral relations, namely the establishment of a UK-Israel free trade agreement, the Britain-Israel Investment Group and a UK-Israel innovation and investment summit?

[Nigel Huddleston]

My hon. Friend is all over the numbers, which saves me from repeating them. The benefits of the trade agreement are obvious, and we continue to strengthen our trade relationship with Israel, which is a valued friend and ally. As outlined in the 2030 road map for UK-Israel relations, a service-based free trade agreement between our two nations will act as a cornerstone of this relationship in years to come. As such, we are pleased to have successfully concluded the second round of negotiations in London just last month, and we look forward to holding further talks in due course.