EU External Trade: USA

Department for Business, Innovation and Skills written question – answered on 27th January 2015.

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Photo of Grahame Morris Grahame Morris Labour, Easington

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the potential economic costs and benefits of the Transatlantic Trade and Investment Partnership for the North East of England.

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 Transatlantic Trade and Investment Partnership could deliver a substantial economic boost for people living in the North East. For example the chemicals sector, which has a large presence in the region, could particularly benefit. Based on independent economic analysis, the Government estimates that the North East’s share of increased exports could be up to £1.05 billion.

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