Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Rachael Maskell Excerpts

Thursday 24th June 2021 Commons Chamber

[Elizabeth Truss]

My hon. Friend is absolutely right. A key benefit of the CPTPP is increased resilience. It means that our exporters will not have all their eggs in one basket. They will have options about where they send their goods. It will also mean our importers are able to rely on strong relationships in countries which follow the rules and have good standards in areas such as the environment and worker protection.

[Rachael Maskell (York Central) (Lab/Co-op)]

I am grateful to the Secretary of State for giving way. I have been crunching the numbers. If we look at our trade deficit, we see that this agreement will bring in just £300,000 a day in exports compared with the £11 million a day we are losing in our deal with the EU. Should her efforts not be put towards ensuring that the deal is comprehensive so that we can trade across the channel, in view of the carbon impact of trading across the world?

[Elizabeth Truss]

The logical position, if the hon. Lady does not believe in trading across the world, is that she only believes in having protectionism for the UK. The reality is that trade with the EU has bounced back. This is about positioning Britain for the future, and where the growing markets of the future are. We are expecting trade with CPTPP countries to increase by 65% by 2030. The hon. Lady is harking back to the past; we are looking at where the future opportunities are for Britain.

As the world’s second largest services exporter, we will be perfectly placed to benefit from strong provisions securing the free flow of data and easier business travel to CPTPP countries. True to the British people’s priorities, there are no strings attached to this deal that would force us to cede control over our laws, our borders or our money. Instead, the UK will join 11 fellow sovereign nations in one of the world’s largest free trading areas. This House can be proud that the UK is at the front of the queue and set to be the CPTPP’s first new member since it was established in 2018. This is a testament to the ties that we have forged with our Pacific partners and to the UK’s fierce commitment to high standards. It also shows that our independent trade policy is not just about the here and now, but about the long term. As part of the CPTPP, we can strengthen it as a bulwark against unfair trading practices. Together, we can bring home the benefits of free trade for all our people.

Our accession will have full parliamentary scrutiny. We committed to publishing our negotiating objectives, consultation response and scoping assessments at the outset of our negotiations, and we did that earlier this week. All of this will be fully scrutinised, including by the new Trade and Agriculture Commission. That puts us in a very strong position compared with comparable parliamentary democracies. Five years on from the referendum, we are demonstrating what global Britain is capable of. We are back as a major force for global trade, striking more trade deals than any other nation has been able to manage.

We have the world knocking on our door, eager to do business with Britain. That is why I am working with allies worldwide, from the United States to India and from the Gulf states to Japan, to break down barriers to trade, and we are now seizing the shimmering opportunity offered by this jewel of the Pacific, the CPTPP. Joining will do more than ever to realise our vision of global Britain as we embrace new markets while levelling up every region and nation of the UK. That is the bright future awaiting us as part of the CPTPP, and I commend these negotiations to the House.