Oral Answers to Questions
Debate between Ranil Jayawardena and Kieran Mullan(3 years, 6 months ago)
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The Parliamentary Under-Secretary of State for International Trade (Mr Ranil Jayawardena)
Happy birthday, Mr Speaker. The United Kingdom now has a fully operational trade remedies system that can take action if foreign subsidies harm British businesses. In addition, last month, my right hon. Friend the International Trade Secretary chaired a meeting of G7 Trade Ministers that called for the start of negotiations to develop stronger international rules on market-distorting subsidies and trade-distorting actions by state-owned enterprises, such as the forced transfer of technology.
Dr Mullan
Happy birthday, Mr Speaker. With nine out of 10 of the largest Chinese firms being state-owned enterprises, it is clear that the international rulebook is not keeping up with the latest players’ tactics. I do not want to see—I do not think anyone here wants to see—British businesses undercut. Will the Minister elaborate on what more we can do, working with like-minded allies in the WTO and the G7, to tackle these unfair practices?
Mr Jayawardena
My hon. Friend is right that global trading rules have not adapted to take account of China’s growth or its different economic model, so Britain cannot, and will not, allow her businesses to be damaged or undercut by those who do not play by the rules, such as through the non-transparent granting of different forms of industrial subsidies. We will work with like-minded partners at the G7, the G20, the WTO and elsewhere to address the harmful impacts of these unfair practices.
Oral Answers to Questions
Debate between Ranil Jayawardena and Kieran Mullan(4 years, 3 months ago)
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Mr Jayawardena
Arm is a very successful business, and I have regular conversations with colleagues in a number of Departments. The most important thing is that we ensure the environment in the UK is one in which all sorts of businesses want to work and, of course, that we preserve our national security.
Dr Kieran Mullan (Crewe and Nantwich) (Con)