Trade (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) Bill [Lords]

Debate between Richard Graham and Kemi Badenoch

2nd reading
Monday 29th January 2024 Commons Chamber

[Kemi Badenoch]

My hon. Friend is absolutely right. This deal is thinking about the future. Of course we have a close trading relationship with the European Union, but the fact is that, as a share of global growth, Europe is shrinking and other parts of the world are growing. This is our opportunity to get in early and help shape the rules for this trading bloc.

[Richard Graham (Gloucester) (Con)]

The Business Secretary is making a powerful case on why accession to the CPTPP will be transformative for our country in so many ways. She alluded to the importance of business with Malaysia. This is not just about trade; it is also about investment. The importance of Malaysian investment over here is symbolised by Brabazon on the edge of Bristol, and by Battersea power station. Does she agree that all those investments will be much more secure under the umbrella of the first ever trade and investment agreement with Malaysia?

[Kemi Badenoch]

I agree with that statement. I would just like to highlight the significant contribution that our trade envoys, including my hon. Friends the Members for Wyre Forest (Mark Garnier), and for Gloucester (Richard Graham), are making to our debate on trade. They are getting out there, bringing business to the United Kingdom, selling all that is great about our country, and making a valuable contribution to trade policy in the UK, and I want to take this opportunity to thank them for all the work they are doing, travelling around the world and banging the drum for British trade.

Oral Answers to Questions

Debate between Richard Graham and Kemi Badenoch

Thursday 29th June 2023 Commons Chamber

[The Secretary of State for Business and Trade (Kemi Badenoch)]

The CPTPP will be benefiting every nation and region of our country. In particular, UK firms will enjoy enhanced access to Malaysia for the first time, including a reduction on tariffs on whisky sales to Malaysia of 80% within 10 years, improving prospects for trade and opening up opportunities in an economy worth £330 billion.

[Richard Graham]

We should all congratulate the Secretary of State and her team on concluding the CPTPP negotiations, and it should be ratified any time now in New Zealand. Of course the most important new element of the trans-Pacific partnership is this first ever free trade agreement with our long-term friend and ally, Malaysia. Whether in cars, cyber, chocolates, vaccines or legal and other services, the opportunities for British exporters are considerable and, of course, the dividends from our investment there, such as the new Smith & Nephew plant, will also help our balance of payments. Does my right hon. Friend therefore agree that there is a great opportunity for us and Malaysia to work together on spreading the word, through our regional offices, the UK-ASEAN Business Council and every other means possible, to make sure that businesses in both countries are absolutely aware of the opportunities that the deal offers?

[Kemi Badenoch]

I thank my hon. Friend for his question. He will be pleased to know that Ministers in the Department met their counterpart, the Malaysian export Minister, this very week. A lot is going on between our two countries. The Department works closely with the UK-ASEAN Business Council, and our first bilateral joint economic trade committee with Malaysia is expected later this year. It will help promote the bilateral trade and investment and economic co-operation that he rightly champions as the trade envoy to that country. He will know that I will be signing the CPTPP agreement next month in New Zealand.

Oral Answers to Questions

Debate between Richard Graham and Kemi Badenoch

Thursday 15th December 2022 Commons Chamber

[Richard Graham (Gloucester) (Con)]

We have recently signed several agreements with Indonesia, which is good news, and the follow-up is now critical. Will my right hon. Friend confirm, first, that the next round of Joint Economic and Trade Committee talks will happen here in London in the first quarter of next year? Secondly, will the new Government-to-Government framework have Indonesia as a priority? Thirdly, and perhaps most intriguingly, can we move to negotiations on an FTA as soon as possible?

[Kemi Badenoch]

I congratulate my hon. Friend on being a doughty champion of Indonesia and on being such a good trade envoy. He is right that we want to have a JETCO early next year. The Department is liaising closely with its counterparts in Indonesia, and I would be delighted to invite him to assist us in all our engagements to make sure we see all the good things that he wants to happen.