Digital Economy Agreements

Lord Leong Excerpts

Monday 24th July 2023 Lords Chamber

[The Earl of Minto (Con)]

No, my Lords, I am not sure that they are in conflict. Technological advances in free trade agreements will ensure that this country, among others, will be able to trade freely with a very wide range of companies and countries.

[Lord Leong (Lab)]

My Lords, digital transformation could grow the UK economy by more than £413 billion by 2030, equivalent to around 19% of the entire UK economy. That is more than twice the annual output of the UK’s manufacturing sector. Surely we should be turbocharging DEAs with as many countries as possible. Why are we so slow, and what assessment have the Government made of the size and experience of negotiating teams as part of the recent machinery of government changes?

[The Earl of Minto (Con)]

The noble Lord makes a very good point: anything that improves the speed of these free trade agreements can only be for the benefit of the country. The ones we are looking at at the moment are with India, Switzerland, Israel, Canada, Mexico and the GCC, and digital economy agreements will be in every one. There are digital trade provisions in a further 30 to 40 free trade agreements: I am very happy to give him a list but I do not think it is appropriate to read it out now. The very heart of this is making trade easier, faster, more secure and of course cheaper.