UK-EU Renegotiation

Part of the debate – in the House of Commons at 12:48 pm on 3rd February 2016.

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Photo of David Cameron David Cameron The Prime Minister, Leader of the Conservative Party 12:48 pm, 3rd February 2016

My hon. Friend is absolutely right that, outside the EU, one option would be to take our seat at the WTO. The only problem is that the WTO has not signed many trade agreements in recent years. Those have tended to be bilateral agreements, such as the EU agreement with Canada, which we hope is about to come in, and that with Korea. Of course, Britain could, independently, sign trade agreements, but we have to weigh up how much influence Britain has as a member of the EU—a market of 500 million people—when negotiating the biggest and best trade deals with the fastest-growing countries in the world.