Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment her Department has made of the value to the UK of quantum computing sector exports.
Answered by Graham Stuart
The Department for International Trade does not hold figures which quantify the export value of the Quantum computing sector. The importance and potential of Quantum technologies are recognised by the Government, which, in partnership with the private sector, is supporting £1bn worth of investment through the 10-year National Quantum Technologies Programme (NQTP). This investment is helping to drive commercialisation and position the UK at the forefront of Quantum computing. The Government continues to invest in the UK technology sector, where in 2019 the value of digital goods exports was £17.4bn, while digital services exports in 2018 were £51.4bn (latest full year figures).
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what her trade priorities are for the 2021 UK presidency of the G7.
Answered by Ranil Jayawardena
Our Rt Hon. Friend the Prime Minister has identified health, climate change, and global free trade as key priorities for the United Kingdom’s Presidency of the G7 in 2021.
Working with our G7 partners, we will work for a strong, sustained response to the pandemic and other global challenges, including strengthening global supply chains and the multilateral trading system. In addition, to help make sure that the global free trading system on which our economies are based remains fair, competitive and secure, our Rt Hon. Friend has announced a Panel on Economic Resilience too.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps her Department has taken to help ensure that businesses in Sussex can benefit from the UK-Japan Comprehensive Economic Partnership Agreement.
Answered by Greg Hands
The Comprehensive Economic Partnership Agreement (CEPA) impact assessment shows that all parts of the United Kingdom could benefit from the CEPA. Output in the South East could increase by 0.07%, equivalent to £177 million in 2017 terms.
CEPA could benefit farmers and food producers in Sussex through lower tariffs than would have been the case without an agreement. It also allows more UK goods to access preferential tariffs than the EU-Japan Agreement, thanks to new rules of origin. New protections for more iconic South East products such as English sparkling wine or Kentish Ale goods may also be possible.
The CEPA contains a dedicated Small and Medium-Sized Enterprise (SME) chapter to ensure that SMEs are provided with the tools and resources necessary to seize the opportunities of exporting to Japan.
The Department for International Trade (DIT) works closely with all United Kingdom business and wider stakeholders to address their interests including through our Trade Advisory Groups. DIT’s International Trade Advisors are already engaging with SMEs in the South East about benefits and opportunities of this agreement.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps her Department has taken to ensure that (a) farmers and (b) food producers in Sussex can benefit from the UK-Japan Comprehensive Economic Partnership Agreement.
Answered by Greg Hands
The Comprehensive Economic Partnership Agreement (CEPA) impact assessment shows that all parts of the United Kingdom could benefit from the CEPA. Output in the South East could increase by 0.07%, equivalent to £177 million in 2017 terms.
CEPA could benefit farmers and food producers in Sussex through lower tariffs than would have been the case without an agreement. It also allows more UK goods to access preferential tariffs than the EU-Japan Agreement, thanks to new rules of origin. New protections for more iconic South East products such as English sparkling wine or Kentish Ale goods may also be possible.
The CEPA contains a dedicated Small and Medium-Sized Enterprise (SME) chapter to ensure that SMEs are provided with the tools and resources necessary to seize the opportunities of exporting to Japan.
The Department for International Trade (DIT) works closely with all United Kingdom business and wider stakeholders to address their interests including through our Trade Advisory Groups. DIT’s International Trade Advisors are already engaging with SMEs in the South East about benefits and opportunities of this agreement.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps her Department has taken to ensure that SMEs in Sussex can benefit from the UK-Japan Comprehensive Economic Partnership Agreement.
Answered by Greg Hands
The Comprehensive Economic Partnership Agreement (CEPA) impact assessment shows that all parts of the United Kingdom could benefit from the CEPA. Output in the South East could increase by 0.07%, equivalent to £177 million in 2017 terms.
CEPA could benefit farmers and food producers in Sussex through lower tariffs than would have been the case without an agreement. It also allows more UK goods to access preferential tariffs than the EU-Japan Agreement, thanks to new rules of origin. New protections for more iconic South East products such as English sparkling wine or Kentish Ale goods may also be possible.
The CEPA contains a dedicated Small and Medium-Sized Enterprise (SME) chapter to ensure that SMEs are provided with the tools and resources necessary to seize the opportunities of exporting to Japan.
The Department for International Trade (DIT) works closely with all United Kingdom business and wider stakeholders to address their interests including through our Trade Advisory Groups. DIT’s International Trade Advisors are already engaging with SMEs in the South East about benefits and opportunities of this agreement.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what comparative assessment she has made of the level of inward investment into (a) the UK and (b) other European countries.
Answered by Graham Stuart
Latest ONS figures report that the UK’s inward Foreign Direct Investment (FDI) stock reached £1.5 trillion in 2018, a new record. According to UNCTAD, the UK held the 2nd highest FDI stock in the world in 2019, after the USA.
The Financial Times FDI Report found that the UK hosted more greenfield FDI projects than any other European country in 2019, with 1,271 landed ahead of Germany at 702 and Spain with 658.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent assessment she has made of trends in the level of UK exports.
Answered by Graham Stuart
UK trade was performing strongly before the pandemic, with exports increasing 4.4% to £690.8bn last year and increasing year-on-year since 2016. According to UNCTAD the UK was the only one of the world’s ten largest exporting countries to increase exports in 2019, overtaking France to become the fifth largest exporter. Latest figures show the value of UK exports in the 12 months to September 2020 was £626.8bn, down 7.9% on the same period last year.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what estimate she has made of the projected economic value of the trade deal signed with Japan to (a) Sussex and (b) England.
Answered by Greg Hands
The published final stage impact assessment shows that all UK regions and nations are estimated to increase output as a result of the UK-Japan Comprehensive Economic Partnership Agreement (UK-Japan CEPA). Government analysis indicates that the UK-Japan CEPA could boost the economy in the South East by approximately 0.07% in the long-run (equivalent to £177 million based on 2017 gross value added). It should be noted that these monetised value estimates are to be interpreted as indicative magnitudes not precise estimates or forecasts. The analysis does not include a breakdown of the economic value of the deal for Sussex nor an aggregated economic value for England.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent discussions her Department has had with UK businesses seeking to export English wine internationally.
Answered by Graham Stuart
On 22 June we launched, with Defra, and the support of the UK wine industry a Food and Drink Bounce Back Package. The package offers export support tailored towards the English Wine industry and includes masterclasses, webinars, virtual meet-the-buyer events and support from UK Export Finance. DIT is in regular contact with the wineries’ Trade Association, WineGB and sits on their Export Committee as we prepare for new opportunities presented by FTAs. Under a UK-Japan?FTA, English wines will continue to benefit from lower tariffs into Japan.