Financial Services: International Cooperation

Treasury written question – answered on 31st October 2019.

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Photo of Steven Baker Steven Baker Conservative, Wycombe

To ask the Chancellor of the Exchequer, if he will take steps to establish a new global platform agreement for financial services.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The UK has extensive global financial services ties with both leading advanced markets and emerging markets. When we leave the EU, we will have new tools at our disposal, which we will take advantage of to enhance our key financial services relationships. These include the chance to forge deep bilateral regulatory agreements based on equivalence and mutual recognition, and the opportunity to negotiate on financial services in Free Trade Agreements. We will also continue to use existing tools, such as engagement in the international standard setting bodies.

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