Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what formal mechanisms exist for engagement with financial services firms on the operation of the UK–Republic of Korea Free Trade Agreement.

Both DBT and HM Treasury conduct routine engagement with Financial Services firms and representative bodies. HMT’s Working Group discusses the negotiation and operation of UK trade agreements, including the UK-Republic of Korea FTA. DBT conducts engagement with Financial Services firms and representative bodies as part of its broader services engagement programme. This includes bilateral conversations and fora to collate interests in UK trade agreements, including the UK-Republic of Korea FTA, and assess business sentiment regarding their negotiation.