Asked by: Paul Bristow (Conservative - Peterborough)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what plans she has to reach an agreement on investment with the Kingdom of Morocco.
Answered by Ranil Jayawardena
Bilateral trade between the United Kingdom and Morocco was worth £1.8 billion in the four quarters to the end of Q3 2021, up £124 million on the same period the previous year. Our trade relationship is underpinned by the United Kingdom-Morocco Association Agreement. The Association Council met in December 2021 to discuss commercial opportunities and to establish a new trade sub-committee, tasked with identifying opportunities to enhance trade and investment and to address market access barriers.
The United Kingdom already has a Bilateral Investment Treaty with Morocco, which came into force in 2002. The Association Agreement, which came into effect on 1st January 2021, contains provisions on investment too.
Asked by: Paul Bristow (Conservative - Peterborough)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps she has taken to increase trade with the Kingdom of Morocco this year.
Answered by Ranil Jayawardena
Bilateral trade between the United Kingdom and Morocco was worth £1.8 billion in the four quarters to the end of Q3 2021, up £124 million on the same period the previous year. Our trade relationship is underpinned by the United Kingdom-Morocco Association Agreement. The Association Council met in December 2021 to discuss commercial opportunities and to establish a new trade sub-committee, tasked with identifying opportunities to enhance trade and investment and to address market access barriers.
The United Kingdom already has a Bilateral Investment Treaty with Morocco, which came into force in 2002. The Association Agreement, which came into effect on 1st January 2021, contains provisions on investment too.
Asked by: Paul Bristow (Conservative - Peterborough)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what representations she has made to her Indian counterpart on the Indian Government's non-compliance with international arbitration rulings in respect of (a) Cairn Energy, (b) Vodafone and (c) Devas Multimedia; and if she will make a statement.
Answered by Ranil Jayawardena
It is a long-standing position of HM Government not to engage in ongoing legal proceedings under bilateral investment treaties (BITs) that we are not party to. Enforcement of an award made in favour of an investor by an international arbitral tribunal is a question for the investor, based on the options available to them under international law and relevant domestic legal procedures.
Asked by: Paul Bristow (Conservative - Peterborough)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, whether she plans to review the efficacy of provisions in the UK-India Bilateral Investment Treaty relating to independent international arbitration panels as a means of dispute resolution; and if she will make a statement.
Answered by Ranil Jayawardena
HM Government has no plans to review the investor-state dispute settlement (ISDS) provision in the United Kingdom-India Bilateral Investment Treaty (BIT). The BIT was unilaterally terminated in 2017, following notice of termination provided by the Government of India in 2016. The BIT contains a sunset clause, under which the provisions of the treaty, including the ISDS provision, continue to apply to investments made before its termination for a further 15 years.
Asked by: Paul Bristow (Conservative - Peterborough)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what estimate she has made of the additional UK investment in India which will result from a UK-India free trade agreement; and will she make a statement.
Answered by Ranil Jayawardena
The United Kingdom has a strong investment relationship with India with around 400,000 jobs supported through investments in each other’s economies. In 2019, investment from the United Kingdom in India was worth £15.3 billion, a rise of over £800 million from 2018. At a virtual summit in May between my Rt hon. Friend the Prime Minister and Prime Minister Modi of India, Britain announced her intent to negotiate a comprehensive free trade agreement with India. For British businesses investing in India’s £2 trillion economy, or Indian businesses investing across the United Kingdom, a free trade agreement could offer improved access. On 25th May, my Department launched a consultation requesting input from consumers and businesses across all sectors that will help us craft a deal that boosts economic growth creating high-value jobs in every corner of the country.