Japan Free Trade Agreement

Tom Tugendhat Excerpts

Monday 14th September 2020 Commons Chamber

[Elizabeth Truss]

I do not think that £30 billion is to be sniffed at in terms of our trade with Japan. The hon. Lady must look to the future when what we will see is the vast majority of global growth coming from outside the EU. What we want is for the UK to be hitched to those growth opportunities, so that our businesses can expand. I do not see today as a maximum or a steady state. Of course we can do more in the future, but what these lower tariffs mean is that it will be easier and more economic for our businesses to export to Japan.

[Tom Tugendhat (Tonbridge and Malling) (Con)]

First, I congratulate my right hon. Friend on this fantastic deal, which demonstrates not just Britain’s place in Asia, but Britain’s place on the Asian and American continent as part of CPTPP. I am delighted that she is joining me and the Japanese Defence Minister in praising the CPTPP and encouraging Britain to play a more active part. Will she also, however, urge the Defence Secretary to bring the Japanese into the six eyes, as it will be then?

[Elizabeth Truss]

I will pass that call on to my colleague, the Defence Secretary. My hon. Friend is absolutely right about the central importance of TPP, not just as a huge economic opportunity for the United Kingdom, but as a beacon of free trade and fair play that will be vital as we seek to reform the global trading system.