Asked by: Justin Tomlinson (Conservative - North Swindon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps he is taking to attract foreign direct investment to the UK; and if he will make a statement.
Answered by Graham Stuart
The Department for International Trade’s Foreign Direct Investment strategy will ensure Government support is focused where it is most valued by investors and in a way that will maximise wealth creation across the whole of the UK.
We have changed our measure of performance from simply measuring project volumes to measuring economic impact.
Our growing portfolio of ‘High Potential Opportunities’ will promote emerging sector clusters, supply chain gaps and other investment opportunities with high potential to deliver economic benefits across the whole of the UK.
We continue to work closely with Government colleagues strengthening the attractiveness of the UK business environment for foreign investment.
Asked by: Justin Tomlinson (Conservative - North Swindon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps he is taking to retain existing trade agreements with non-EU countries after the UK leaves the EU.
Answered by Greg Hands - Minister of State (Department for Business and Trade)
As a priority, we are currently working with the EU and partner countries to ensure continuity of the effects of EU trade agreements with non-EU countries during the Implementation Period.
Alongside these discussions, we have engaged with over 70 countries to ensure continuity of trading arrangements beyond the Implementation Period and all partner countries have agreed to work with us to ensure continuity. This is a technical exercise to replicate the effects of current trade agreements.