Trade: Trans-Pacific Partnership

Viscount Waverley Excerpts

Wednesday 23rd September 2020 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

My Lords, because we have not entered into negotiations on this agreement yet, it is hard to predict exactly how they will progress, but we are clear that more trade will not compromise our high environmental protection, animal welfare and food standards.

[Viscount Waverley (CB) [V]]

My Lords, picking up on the theme of the noble Lord, Lord Purvis, in wishing otherwise, I would not invest in the Pacific Alliance countries, having listened to a briefing of somewhat negative messaging about that region from our resident ambassadors. Knowing the opportunities that exist, will the Minister sit with his colleagues in government and agree to a sea change in approach that focuses on opportunities for a global Britain, which will need alliances with emerging and frontier markets—of which there are plenty in the Pacific Alliance, which additionally forms a useful springboard for such organisations as Mercosur, for example?

[Lord Grimstone of Boscobel (Con)]

My Lords, the CPTPP is one of the largest free trade areas in the world. It represented 13% of global GDP in 2018, which would increase to more than 16% if the UK were to join. It is one of the world’s premier growth interests and we consider that it is very much in the interests of the United Kingdom to be part of it.