Category: Trade

  • Penny Mordaunt – 2022 Speech to Belgian Trade Delegation

    Penny Mordaunt – 2022 Speech to Belgian Trade Delegation

    The speech made by Penny Mordaunt, the Minister for Trade Policy, at The Athenaeum Club on 10 May 2022.

    It’s an honour to welcome Her Royal Highness Princess Astrid, Her Excellency the Minister, and the Belgian delegation here to London.

    I would like to thank the Federation of Enterprises in Belgium and the CBI for all the good work you are doing and for inviting me today.

    Our nations are longstanding allies with a partnership built upon our shared values of free trade, security, and democracy.

    We are both founding members of NATO, and now more than ever we must be united in our commitment to European security.

    But security is more than just defence, ensuring our economic stability is vital.

    The ability for our nations to capitalise and seize new opportunities is one which cannot be taken for granted. We must work together to protect our businesses, consumers, and sectors.

    I appreciate that for many businesses the last few years have caused difficulty and uncertainty. I want to reassure you that the UK is as open as ever and committed to supporting your firms.

    While I appreciate Brexit was not to everyone’s liking, it does highlight certain qualities that are helpful to business. Knowing that the government does what the people tell it to do. Whatever you think of Brexit, it helped to reinforce the belief that governments are the servants of the people. Never the other way around.

    So change has come to our trading relationships. It has happened and we are adjusting. Change offers unprecedented opportunities for fresh thinking in business. Change is the fuel that entrepreneurial companies need.

    Whilst the UK has set a new path, we’re committed to close trading ties with Belgium and the rest of Europe. We remain strong friends and allies. After the Ukrainian war, now more than ever, we respect each other’s commitment to democracy.

    A relationship based on zero tariffs and zero quotas under the Trade and Cooperation Agreement.

    A relationship we are building on through meaningful engagement to make sure the deal delivers on its promise of free, fair, and plentiful trade.

    The £900 million that Belgian firms invested in the UK over the past year alone, is testament to the work we have already done.

    However, we must not be complacent.

    The UK is committed to the continued modernisation of its relationship with the EU, ensuring we maximise our collective potential – as evidenced through the UK’s £180 million investment to build a Single Trade Window; streamlining traders’ interactions with border agencies.

    A second opportunity I would like to speak to is shared priorities…

    We have never been closer in our common purpose.

    Both our nations are rising to the existential challenge of our age – climate change in the long-term, and rising energy costs in the short-term. I believe these two challenges are two sides of the same coin. Reducing carbon and reducing costs walk hand in hand. When we re-use, re-cycle and reduce we save money as well as protect our environment.

    Of course, this will take close cooperation. But I believe we, in partnership, can be successful.

    Belgium and the UK are world leaders in this regard with you committing to increasing offshore wind generation to 8 Gigawatts by 2030 and the UK setting an ambitious target to quadruple our solar and wind power generation over the next decade.

    I also welcome the current joint ventures in wind technology between our countries and recognise there are many further opportunities for collaboration including in hydrogen, carbon capture and electric cars.

    But to guarantee success, our governments must continue to provide the connections and infrastructure that enables world-class talent to deliver.

    The MoU on energy cooperation signed earlier this year is working towards exactly that.

    The final point I want to highlight is the UK’s role as a gateway to the world.

    Belgium can and should see the UK as a means to access global opportunities – from the US to the Indo-Pacific.

    By operating in the UK, Belgian businesses will be able to benefit from the network of Free Trade Agreements we are now signing outside of the EU.

    The UK has already agreed deals with Australia and New Zealand. One of the Bills announced in the Queens speech today will bring those deals into effect.

    We are on track to join the Comprehensive and Progressive Trans-Pacific Partnership by the end of year. And I’m driving forward trade talks between the UK and 20 individual US states, slashing bureaucracy, and strengthening our ties with the world’s largest economy.

    All these agreements will benefit Belgian businesses who invest in, and trade with, the UK.

    As economic competition intensifies worldwide, we must clear the path to trade between our nations. We must remove unnecessary obstacles to growth and ensure we provide our businesses with the necessary tools to succeed.

    Because it is businesses, not governments, that deliver prosperity.

    It is businesses, not governments, that create sustainable jobs and drive innovation.

    And it is businesses, not governments, that forge the trade and investment ties which bring nations together.

    So, let’s set more innovative British and Belgian firms free to trade and invest between our markets.

    Change can be the opportunity they’ve been waiting for.

    Thank you.

  • Anne-Marie Trevelyan – 2022 Statement on Trade Policy with Switzerland

    Anne-Marie Trevelyan – 2022 Statement on Trade Policy with Switzerland

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 28 April 2022.

    The Prime Minister and President Cassis of Switzerland held a meeting this morning, during which they discussed strengthening the bilateral relationship and boosting trade and investment ties. Following this, the call for input on an enhanced trade agreement with Switzerland has now been launched.

    The UK is committed to our trade and investment relationship with Switzerland, our 10th largest trade partner with bilateral trade worth nearly £35 billion a year. The UK’s current trading relationship is based on the 1972 EU-Switzerland agreement, rolled over on 1 January 2021. While this includes many provisions on trade in goods, intellectual property and government procurement, it crucially does not contain any agreements for services or digital trade, which account for half of our economic relationship with Switzerland and are a key reality of the global economy in the 21st century.

    As two services powerhouses, negotiations for a bespoke UK-Switzerland free trade agreement are a significant opportunity to build on our current trade agreement and negotiate an ambitious, unprecedented deal that will accelerate the growth of our already significant trading relationship, creating economic growth and supporting jobs in both countries.

    The call for input will provide businesses, public sector bodies, individuals and other interested stakeholders with the opportunity to give valuable feedback and highlight their priorities for a closer trading relationship with Switzerland.

    The feedback received from stakeholders will be crucial when shaping our mandate, and will inform detailed negotiations preparation, and policy positions. The Department for International Trade is committed to ensuring future trade agreements and their provisions are informed by stakeholder needs and shaped by the demands of the British economy.

    The launch of the call for input is a key step in our joint ambition to renegotiate a high quality and ambitious trade agreement, focused on creating even greater opportunities for UK businesses. Our trade with Switzerland has increased almost three-fold over the last 20 years, with service exports rising from £2.4 billion in 2000 to £12.2 billion in 2020. These new negotiations will allow us to increase this even further, while leveraging our respective strengths in talent and innovation to agree cutting-edge digital provisions.

    The UK and its partners in Switzerland share a desire to develop closer ties. While a timescale for negotiations will be confirmed and set out in due course following consultation with Swiss counterparts, the call for input will seek to support the goal of greater economic prosperity for businesses and will ensure that their needs are heard. The Government are committed to transparency and will ensure that Parliament, the devolved Administrations, UK citizens and businesses have access to information on our trade negotiations.

    The call for input can be accessed using the following link: https://www.gov.uk/government/consultations/trade-with-switzerland-call-for-input.

  • Anne-Marie Trevelyan – 2022 Statement on Trade with Ukraine

    Anne-Marie Trevelyan – 2022 Statement on Trade with Ukraine

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 25 April 2022.

    On Thursday 21 April, I met His Excellency, Vadym Prystaiko, Ukraine’s Ambassador to the United Kingdom, where we reached an agreement in principle that the UK will liberalise all tariffs on imports of Ukrainian origin under the UK-Ukraine political, free trade and strategic partnership agreement. This follows the commitment made by the Prime Minister in Kyiv that the UK would step up our economic support. This agreement in principle is in direct response to a request from the Government of Ukraine and is part of the UK’s commitment to their economic stability. Both countries are now completing the necessary processes to rapidly bring this into force.

    The UK Government offered this policy on a non-reciprocal basis, with no expectation or ask of the Ukrainian Government in return. However, the Government of Ukraine has confirmed that their preference is to match our approach and they will fully liberalise their tariffs under the FTA with the UK, in order to maximise the economic benefit for Ukraine and to help secure their economic future.

    Key details include:

    Liberalising all tariffs under the Free Trade Agreement to zero on all goods originating from Ukraine which will provide economic support in their hour of need.

    Our analysis shows that the average tariff on imports from Ukraine not already fully liberalised is currently around 22%. Removing these tariffs provides broad and deep support for the people of Ukraine.

    In the unlikely event of a surge of Ukrainian imports into the UK market, I have put in place a broad safeguard mechanism to protect domestic industry.

    These changes will be for an initial period of 12 months but include a simple process to agree an extension with Ukraine.

    The Government will shortly lay a statutory instrument to amend our domestic legislation accordingly.

    This approach is leading the world in how we support Ukraine, and I will encourage trade ministers in other countries to follow our direction. With that in mind, I will soon convene Trade Ministers from the G20 and other nations to continue the international effort to put pressure on Putin and support Ukraine.

    On Thursday 21 April, we announced that the UK will bolster its sanctions against Russia by expanding the list of products facing import bans and increasing tariffs. With these new measures, the UK will be imposing import tariffs and bans on over £1 billion-worth of Russian goods. The new sanctions will include import bans on silver and high-end products from Russia including caviar, and tariff increases of 35 percentage points on a range of products from Russia and Belarus, including diamonds and rubber. These new measures follow on from the tariff increases imposed on goods from Russia and Belarus on 25 March, and a ban on the import of many iron and steel products from Russia on 14 April. Legislation will be laid in due course to implement these measures. We encourage all importers that use Russian imports to source alternative supplies. As with all sanctions, these measures will be kept under review.

    Today, we also announce additional sanctions to continue putting pressure on Putin’s regime. These sanctions include expanding our existing strong export prohibitions and closing loopholes to ensure that the UK is not selling Russia products and technology which could be used to repress the heroic people of Ukraine.

    As I made clear to Ambassador Prystaiko, the UK will do everything in its power to support Ukraine’s fight against Putin’s brutal and unprovoked invasion and ensure its long-term security and prosperity. We stand unwaveringly with Ukraine in this ongoing fight and will tirelessly work to ensure Ukraine survives and thrives as a free and sovereign nation.

  • Anne-Marie Trevelyan – 2022 Statement on Canada Trade Negotiations

    Anne-Marie Trevelyan – 2022 Statement on Canada Trade Negotiations

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 19 April 2022.

    The first round of UK-Canada free trade agreement negotiations began on 28 March and concluded on 1 April. A delegation of 27 Canadian officials undertook technical talks in London with a further 133 joining the talks virtually.

    During this first round, talks focused on reviewing the current trade agreement, sharing recent policy developments in the UK and Canada, and building a shared understanding of each other’s overall positions in every area expected to be covered in the new free trade agreement. Technical discussions were held across 34 policy areas over 50 separate sessions.

    Both countries share a strong desire to secure an ambitious, modern and comprehensive deal that goes further than the existing trade continuity agreement, removing existing trade barriers and creating new opportunities for business in the UK and Canada. The negotiations are a key opportunity to deepen UK-Canada trade, already worth £20 billion, and to work with a like-minded partner on a range of inclusive and future facing trade policy such as supporting women’s economic empowerment, SMEs, innovation, climate and environment.

    The second round of official level negotiations is due to take place in June 2022.

    We remain clear that any deal the Government strike must be in the best interests of the British people and the economy.

    The Government will keep Parliament updated as these negotiations progress.

  • Victoria Prentis – 2022 Comments on Selling Pork to Chile

    Victoria Prentis – 2022 Comments on Selling Pork to Chile

    The comments made by Victoria Prentis, the Farming Minister, on 31 March 2022.

    The pig sector is facing a range of challenges and we must make use of all levers available to us. That includes new export markets, and it is great to see the Chilean market open its doors to our pig producers.

    This will be worth £20 million over the next five years and will build on other measures we have introduced to bolster the industry.

  • Vicky Ford – 2022 Comments on Supporting Free Trade in Africa

    Vicky Ford – 2022 Comments on Supporting Free Trade in Africa

    The comments made by Vicky Ford, the Minister for Africa, on 29 March 2022.

    Closer integration between African economies boosts growth across the continent creates opportunities and helps lift people out of poverty.

    The UK is a committed partner in this mission. This UK funding will promote long-term partnerships between African countries and support a more prosperous, greener continent.

    I am delighted to be supporting the AfCFTA Secretariat and its Member States to deliver freer and fairer trade systems in Africa.

  • Anne-Marie Trevelyan – 2022 Comments on Supporting Free Trade in Africa

    Anne-Marie Trevelyan – 2022 Comments on Supporting Free Trade in Africa

    The comments made by Anne-Marie Trevelyan, the Secretary of State for International Trade, on 29 March 2022.

    As an independent free trading nation, the UK strongly supports the AfCFTA – the largest free trade area in the world.

    We’re keen to see continued momentum on outstanding negotiations, and on practical implementation of the agreement on the ground.

    This new aid programme shows that trade is a force for good, and will lead to increased trade, investment, and prosperity for both Africa and the UK.

  • Anne-Marie Trevelyan – 2022 Statement on India Trade Negotiations

    Anne-Marie Trevelyan – 2022 Statement on India Trade Negotiations

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 24 March 2022.

    The second round of UK-India free trade agreement negotiations began on 7 March and concluded on 17 March. A delegation of 44 Indian officials undertook technical talks in London. The negotiations, at official level, were conducted in a hybrid fashion, with some negotiators in our dedicated UK negotiations facility, and others attending virtually.

    During this second round, talks focused on draft treaty text. Technical discussions were held across 26 policy areas over 60 separate sessions.

    Both countries continue to share an ambition to secure a modern and comprehensive deal that would remove trade barriers and create new opportunities for business in the UK and India. The UK-India deal is a key opportunity to deepen our economic relationship with a dynamic and fast growing economy in the Indo-Pacific region.

    This deal is part of a wider trading relationship with India. The 2030 Roadmap agreed last year sets the ambition of doubling trade with India by 2030 and provides a framework for the UK-India relationship that goes beyond the free trade agreement.

    The third round of official level negotiations is due to take place in April 2022. We will focus on agreeing treaty architecture and seeking market access commitments to deliver benefit to UK consumers and businesses.

    We remain clear that any deal the Government strikes must be in the best interests of the British people and the economy.

    The Government will keep Parliament updated as these negotiations progress.

  • Anne-Marie Trevelyan – 2022 Statement on Canadian Trade Policy

    Anne-Marie Trevelyan – 2022 Statement on Canadian Trade Policy

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 24 March 2022.

    Today, the Department for International Trade is publishing a comprehensive set of documents setting out the UK’s strategic approach to an enhanced free trade agreement (FTA) between the UK and Canada. In line with our commitments to scrutiny and transparency, these documents have been published and placed in the Libraries of both Houses.

    As a recently independent trading nation, the UK is now able to champion its own trade policy by securing agreements with new international partners, as well as by upgrading the terms of our existing continuity agreements to better suit the needs of UK businesses and the economy. We signed the UK-Canada trade continuity agreement (UK-CAN TCA) on 9 December 2020, which committed both parties to enter negotiations on a bespoke trade agreement by 1 April 2022. As such, negotiations will be launched today, 24 March 2022, with negotiations due to begin shortly afterwards. The negotiation objectives published today were informed by our call for input, which requested views from consumers, businesses, and other interested stakeholders on priorities for upgrading our agreement with Canada.

    Canada is an important trading partner with a well-developed economy. Despite the slowdown to global trade in 2020 due to the coronavirus pandemic, goods exports to Canada still increased by £478 million and Canada remained one of our top 20 trading partners (ranked 16th), with total trade in goods and services worth £19.2 billion.

    UK exports enjoy an estimated £58 million less in duties under the UK-CAN TCA, relative to trading without one. An upgraded agreement can provide the opportunity to support further trade liberalisation and benefit businesses, including the 10,300 small and medium-sized enterprises (SMEs) already exporting to Canada.

    Enhancing the terms of our agreement with a historically connected partner like Canada can provide opportunities for businesses across the entire UK, support the UK’s transition to net zero and strengthen our vision for global Britain. We share a Head of State and work together across a range of bilateral and international initiatives including as members of the Five Eyes, G7, G20, NATO, and as signatories of the Paris climate agreement. These new negotiations are just another way in which our important partnership is delivering against all the priorities as set out in the UK’s integrated review. Further, these negotiations provide a valuable opportunity to pursue high ambition in areas of mutual interest including, championing, and supporting women’s economic empowerment through trade, updating our digital trade package, promoting innovation, and supporting our role as a global leader in climate action.

    A bespoke trade agreement with Canada will also complement the UK’s accession to the comprehensive and progressive agreement for trans-Pacific partnership (CPTPP), of which Canada is an influential member.

    The Government are determined that any agreement must work for consumers, producers, investors, and businesses alike. We further remain committed to upholding our high environmental, labour, public health, food safety and animal welfare standards, alongside protecting the national health service (NHS).

    HM Government are committed to transparency obligations, and we will continue to update and engage with key stakeholders as well as Parliament and the devolved Administrations throughout our negotiations with Canada.

  • Anne-Marie Trevelyan – 2022 Statement on Singapore Negotiations

    Anne-Marie Trevelyan – 2022 Statement on Singapore Negotiations

    The statement made by Anne-Marie Trevelyan, the Secretary of State for International Trade, in the House of Commons on 25 February 2022.

    I have today signed a ground-breaking digital trade agreement with Singapore.

    The DEA represents the most ambitious package of provisions on digital trade we have agreed to date. It will serve as a model for such agreements in future, cementing the UK’s place as a world leader in digital trade.

    The nature of digital trade and the digital economy means that the DEA is about far more than tech firms, valuable as the contribution they make to the UK economy undoubtedly is. Whether it is through opening digital markets, promoting the free flow of trusted data, or slashing red tape through overhauling outdated paper-based processes, digital trade has the potential to turbocharge UK exports and deliver benefits to businesses and consumers across the whole UK economy, from offices in Dundee to living rooms in Derbyshire and factory floors in Devon.

    More detail will be set out in the explanatory memorandum that will accompany the laying of the text before Parliament, but key benefits of the deal include:

    Supporting UK businesses to access Singapore’s digital markets. Digitally-delivered services made up around 70% of UK-Singapore services trade in 2019, and this deal will help grow our trade in this area.

    Cutting red tape by supporting the overhaul of outdated, paper-based trading systems. For example, the agreement contains specific commitments around maintaining legal frameworks that enable the digitisation of trade documents.

    Keeping our country and citizens safe through deepening our partnership with Singapore in areas such as cybersecurity, as well as promoting the importance of online consumer protection and personal data protection.

    The DEA will also support our bid to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), joining Singapore and 10 other vibrant trading nations. Membership would mean access to a £8.4 trillion free trade area with some of the biggest and fastest- growing markets in the world.

    Following signature of the agreement today, it will shortly be laid before Parliament, in line with usual practice, after which it will also be published online. I expect the agreement to come into force later this year once both the UK and Singapore have completed our respective domestic procedures.