Trade Agreements

Business, Innovation and Skills written question – answered on 8th September 2014.

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Photo of Roger Godsiff Roger Godsiff Labour, Birmingham, Hall Green

To ask the Secretary of State for Business, Innovation and Skills for what reasons the UK decided to take part in the negotiations relating to the Trade in Services Agreement.

Photo of Matthew Hancock Matthew Hancock Minister of State (Department for Business, Innovation and Skills), Minister of State for Portsmouth, The Minister of State, Department of Energy and Climate Change

The UK Government recognises the importance of trade to delivering long-term growth and jobs. The Trade in Services Agreement (TiSA) is the first negotiation to focus solely on trade in services, an area of key UK competitive advantage. As the second largest exporter of services, with 6.5% of global trade, the UK is a strong supporter of the TiSA. Independent analysis shows that an ambitious agreement could add as much as £2 billion to £3 billion annually to the UK economy in the long term.

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