Trade Agreements: Overseas Aid

Department for International Trade written question – answered at on 19 March 2021.

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Photo of Gareth Thomas Gareth Thomas Shadow Minister (International Trade)

To ask the Secretary of State for International Trade, what assessment she has made of the effect of the decision to reduce funding for Official Development Assistance on (a) securing and (b) enhancing future trade relationships; and if she will make a statement.

Photo of Greg Hands Greg Hands The Minister of State, Department for International Trade

The seismic impact of the pandemic on the UK economy has forced us to take tough but necessary decisions, including temporarily reducing the overall amount we spend on Official Development Assistance (ODA).

We remain a world leading aid donor, spending 0.5% of Gross National Income (GNI), which means we will spend more than £10 billion next year on ODA, with trade remaining one of our priorities for our ODA spend.

We remain committed to enhancing our trading relationships with developing countries, including through implementing and improving both our Economic Partnership Agreements and the UK Generalised Scheme of Preferences.

We will return to spending 0.7% of GNI on ODA when the fiscal situation allows.

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