Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps she is taking to (a) encourage foreign direct investment from member states of the Commonwealth into the UK and (b) promote UK foreign direct investment into member states of the Commonwealth.

Investors from Commonwealth member states benefit from our Investment Strategy, which radically improves our long-term offer, ensuring that the UK remains one of the most competitive destinations for internationally mobile investment. In 2021-22 Department for International Trade network teams assisted 209 FDI projects in Commonwealth countries which created 12,268 total jobs.

Commonwealth member states will also benefit from the support the Department for Business and Trade provides to UK-based companies’ outward investments where there is a positive impact on the UK economy.

The Commonwealth Trade Ministers Meeting in June 2023 will provide the opportunity to further discuss the ambition to boost intra-Commonwealth trade to $2 trillion by 2030.