Trade Bill

Lord Astor of Hever Excerpts

2nd reading & 2nd reading (Hansard) & 2nd reading (Hansard): House of Lords
Tuesday 8th September 2020 Lords Chamber

[Lord Astor of Hever (Con)]

My Lords, I welcome my noble friend the Minister to the Dispatch Box for his first Bill and congratulate him on his maiden speech. I agree with him that trade is the best route to prosperity. I wish him well with the Bill and will support him when I can.

I declare an interest as president of the Thai-UK Business Council and as the Prime Minister’s trade envoy to Oman. In that role, I am hugely grateful for the outstanding support that I receive from the DIT team in Muscat and here in London. I also pay tribute to the UKEF. Major trade deals often flounder due to a lack of funding but UKEF has been hugely supportive of the work that I have done in Oman.

I think the trade envoy initiative has been a success. I understand that a list of newly appointed trade envoys was due to be announced, and some countries, including Thailand, are waiting impatiently for that announcement. Can the Minister say when that might be? Asia will drive the global economic growth of the future, and the DIT’s vision statement for Asia Pacific is

“to support UK business to take advantage of the scale and breadth of opportunity in the region—promoting it as the region with the greatest potential for economic growth.”

Thailand has the second-largest economy in south-east Asia, and there are a huge number of export opportunities there for British companies. It really needs a trade envoy from this country as soon as possible.

I welcome the Bill, which introduces sensible provisions to ensure continuity and certainty for British business. I welcome the fact that the Bill will not be used to reduce standards. Our high domestic standards for labour, environmental protection and food safety will continue to apply, and imports from trade partners will continue to be required to meet those standards. None of the continuity agreements erodes any domestic standards of the NHS.

I also welcome the fact that the Bill prevents disruption to UK business and consumers by creating powers to make regulations, if needed, to assist in implementing trade agreements that will transition with existing third-country trade partners. This will help to ensure the continuity of existing trade and investment arrangements across the UK, providing certainty to workers, consumers, businesses and international trading partners.