Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment she has made of the importance of UK aviation to the Government’s international trade priorities.
Answered by Graham Stuart
The Government recognises the importance of UK aviation, both as a source of exports and as a facilitator of international trade and investment. UK airports support the movements of high-value goods which, in 2019, accounted for half of all UK exports of goods by value to non-EU countries.
Air freight plays an important role in supply chains and in ensuring that essential goods can continue to be brought in and out of the UK without disruption. The Government is continuing to monitor air freight capacity.
The Department for International Trade engages with other government departments, UK suppliers from across the aviation industry, and trade associations to support exports and investment and understand industry requirements and capabilities.
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent assessment she has made of trading opportunities between the UK and (a) Australia and (b) New Zealand after the UK leaves the EU.
Answered by Conor Burns
Australia and New Zealand are close economic partners and allies. Trade between Australia and New Zealand was worth a combined total of £19.4 billion (in the four quarter to the end Quarter 1 2019). Through our on-going engagement with UK stakeholders, including our work to promote UK exports overseas, and with the Governments of Australia and New Zealand, we have assessed that the UK could increase its trade and investment relationship with both countries, benefiting both UK businesses and consumers. We have committed to starting Free Trade Agreement negotiations with both countries as soon as we are able to do so.
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what plans his Department has to pursue (a) reform of the World Trade Organisation and (b) free trade.
Answered by George Hollingbery
The UK is a strong supporter of the rules-based multilateral trading system and reducing the barriers to trade and investment in support of business and consumers.
The World Trade Organization (WTO) is the bedrock of rules-based free trade and the UK welcomed the commitment made at the recent G20 Summit to support the necessary reform of the WTO to improve its functioning. DIT will continue to champion discussions on WTO reform through the EU, at international fora and in our bilateral engagements, in particular the importance of updating rules on digital trade and ensuring that the WTO dispute settlement system is not undermined.
The Government intends to pursue free trade including through an ambitious programme of trade negotiations and enhanced market access. While we are looking to forge new agreements, the Government is also seeking continuity for our existing EU free trade agreements as we leave the European Union. These give us the platform to build and strengthen already-successful trading relationships.
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent assessment he has made of trends in the level of UK Foreign Direct Investment.
Answered by Graham Stuart
In addition to publishing annual analysis of DIT’s FDI performance as Official Statistics, my Department has recently published one of the most comprehensive analyses of the economic impact of FDI in the world. This highlights the benefits of FDI to the UK and demonstrates how my Department is delivering national wealth for the UK. Our success is reflected in the UK retaining the top position in Europe: across FDI projects, new jobs and greenfield capital expenditure. The links to each publication is as follows:
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment he has made of the potential effect of UK trade agreements with developing countries on the economies of those countries after the UK leaves the EU.
Answered by Greg Hands
Britain is an international leader on development, and the Department for International Trade is working with Department for International Development to ensure global prosperity is at the heart of our future trade policy.
We are committed to ensuring developing countries can use trade as an engine of poverty reduction, and trade agreements play an important role in this.
In 2016, the UK's total bilateral trade with countries that receive preferential access through unilateral preferences or Economic Partnership Agreements was £58bn.
Our first priority is to deliver continuity in our trading arrangements on leaving the EU.
In the future, the Government will also explore options to expand our relationships with developing countries.
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment he has made of the key potential economic benefits for UK (a) businesses and (b) consumers of the UK agreeing trade agreements with other countries after leaving the EU; and if he will make a statement.
Answered by Greg Hands
As part of its preparations for future trade negotiations, the Department for International Trade (DIT) is conducting analysis of potential agreements with other countries. DIT has provided a qualitative summary of existing literature on the impacts of signing free trade agreements in the Impact Assessment accompanying the Trade Bill, available here: https://www.parliament.uk/documents/impact-assessments/IA17-010.pdf
The Department currently provides impact assessments to Parliament when EU trade agreements are ratified. As outlined in the White Paper “Preparing for our future trade policy”, we are committed to a transparent approach to international trade, and will ensure Parliament has an appropriate role to play in the scrutiny of new UK trade treaties.
Asked by: Henry Smith (Conservative - Crawley)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps his Department is taking to make it easier for small and medium-sized enterprises to access UK Export Finance resources.
Answered by Greg Hands
As announced by my Rt hon Friend the Secretary of State for International Trade in July, small businesses can now access government-backed export finance directly from their banks. UK Export Finance (UKEF) has partnered with the five major high street banks to provide small and medium-sized enterprises quicker and easier access to its support. Businesses are now able to access UKEF’s support directly from their bank without the need to apply separately. At the same time, businesses that do not yet sell overseas, but supply exporters that do, will also be able to access UKEF’s support, spreading the benefits of trade to smaller businesses across the UK.