Question

To ask the Secretary of State for Business, Innovation and Skills, what recent progress has been made on the Transatlantic Trade and Investment Partnership; and if he will make a statement.

There continues to be good progress on the free trade agreement currently being negotiated between the EU and US, also known as the Transatlantic Trade and Investment Partnership (TTIP), in particular on the technical work which would underpin the final deal.The next negotiating round is taking place 19-23 October in the US.

A trade and investment agreement between the EU and US offers an enormous economic benefit in jobs, investment and lower prices, worth potentially £10 billion a year to the UK Our ambition remains to reach political agreement during the Obama administration and this goal has been given renewed impetus by the completion of the Trans Pacific Partnership.