EU Trade Agreements: Replication Debate
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Richard Graham
Main Page: Richard Graham (Conservative - Gloucester)Department Debates - View all Richard Graham's debates with the Department for International Trade
EU Trade Agreements: Replication
Richard Graham Excerpts(5 years, 9 months ago)
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Dr Fox
As ever, I am grateful to the hon. Lady for her question. On the UK’s trade, 48% of our trade is with the European Union and 52% with the rest of the world. Of the rest of the world trade, around 11% occurs under EU FTAs. Of the 40 or so agreements, five represent 76% of the 11%, and the bottom 20 represent less than 0.8% of 1%. Therefore, there is very clear advantage in getting those larger agreements across the line first, and we are making excellent progress in that regard.
Richard Graham (Gloucester) (Con)
There are two groups in this House who underestimate the value of free trade agreements. The first includes those Opposition Front Benchers who did not vote for them in the first place and whose leader believes that free trade agreements benefit only multinationals at the expense of everyone else. He should try explaining that on the workshop floor of some of the small and medium-sized manufacturers in my constituency of Gloucester that export around the world. The second group are some Conservative Members who believe that leaving the EU with no deal will be no problem. Will my right hon. Friend confirm that, in the event of no deal, the tariffs that will come into play with the EU will be devastating for farmers and manufacturers and all the rest of the 148,000 companies that export only to the EU and that the simplest way to take this risk off the table is for everybody to get behind the Government’s withdrawal agreement Bill and make sure that all these deals are rolled over without problem?
Dr Fox
It seems that the country is caught between the irrational pessimism of those who fail to be reconciled to the referendum result and believe that everything to do with Brexit will be disastrous for the UK and those who are irrationally optimistic that it would be no problem whatever to leave the European Union with no deal. The truth is that we would be better off with a deal, which is why the Government want to get that deal with the European Union across the line. I still urge Opposition Members to support it. If we do not achieve it, we will end up with the uncertainties that they have identified today.