Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, with reference to her Department's press release of 26 November 2021, DIT removes 20% more trade barriers to unlock major markets for British business, what assessment she has made of the effect of removal of 217 trade barriers across 74 countries in 2020–21 on British trade.
Answered by Ranil Jayawardena
Reducing trade barriers enables countless British businesses to export goods and services around the world with greater ease and at lower cost. Specific analysis of 66 barriers that the Department for International Trade resolved in the last financial year showed they were linked to £2.9 billion of exports.
In total, we resolved 217 barriers in the last financial year and we continue to remove barriers to help businesses benefit from the related trading opportunities. Recent successes include securing access for poultry meat to Japan, estimated to be worth £65million over the first 5 years of trade, a particular benefit for farmers and producers in Northern Ireland, along with others across the United Kingdom.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, with reference to UK trade: November 2021, published 14 January 2021, that showed total export of goods, including precious metals, decreased by £0.3 billion in November 2021, what steps she is taking to reverse the reduction in the export of goods.
Answered by Ranil Jayawardena
Since the beginning of 2020, aggregate global trade flows have been lower, driven by the COVID pandemic. However, provisional ONS data from 11th February shows a £1.1 billion (3.9%) increase in our goods exports in December 2021, compared to November 2021 (excluding precious metals). This includes a £1 billion (7.4%) increase in goods exports to the EU.
On a more stable annual basis, our goods exports (excluding precious metals) increased £14.5 billion (4.9%) in 2021, compared to 2020. Projections suggest that we will reach £1 trillion in exports annually by the mid-2030s.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent assessment she has made of the potential effect of a UK-US free trade agreement on living standards for households across the UK.
Answered by Penny Mordaunt
A UK-US Free Trade Agreement (FTA) could have a significant positive impact on living standards for households across the UK due to potential wage rises combined with lower prices for goods imported from the US. The Department for International Trade (DIT) analysis published in 2020 shows that an ambitious FTA with the US could deliver a £15.3 billion increase in bilateral trade and a £3.4 billion lift to the UK economy. DIT’s analysis also suggests productivity gains from a UK-US FTA could contribute to wage increases of up to £1.8 billion for UK workers in the long run.
Further detail can be found in the report on https://www.gov.uk/government/publications/the-uks-approach-to-trade-negotiations-with-the-us
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, with reference to her Department's press release of 26 November 2021 entitled DIT removes 20 per cent more trade barriers to unlock major markets for British business, what assessment she has made of impact of the removal of trade barriers on levels of British trade in the last six months.
Answered by Penny Mordaunt
The Department for International Trade helped to remove 217 barriers in 2020/2021. More information can be found here: https://www.gov.uk/government/statistics/market-access-barrier-statistics/market-access-barrier-statistics-financial-year-2020-to-2021
We continue to remove barriers and support businesses to benefit from the related trading opportunities. Recent successes include securing access for poultry meat to Japan, estimated to be worth £65million over the first 5 years of trade to farmers and producers across Britain.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps her Department is taking to support UK small and medium enterprise engineering firms to reach a global market.
Answered by Mike Freer
The Department for International Trade’s (DIT) refreshed Export Strategy supports HM Government’s ambition to unlock innovation and growth across the UK. The Strategy focuses on barriers faced by small and medium-sized enterprises (SMEs), including engineering firms, helping them access opportunities in new markets. DIT is seeking SME chapters and SME-friendly provisions throughout all our Free Trade Agreements.
British engineering SMEs can access support throughout their export journey from DIT’s Export Support Service, UK Export Academy, UK Export Finance and our global networks. Our Trade and Investment offices in Belfast, Cardiff and Edinburgh bring support closer to business.