Overseas Trade

Department for International Trade written question – answered on 15th July 2021.

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Photo of Nick Smith Nick Smith Labour, Blaenau Gwent

What recent assessment she has made of the potential effect of her Department’s trade policies on growth for British businesses.

Photo of Graham Stuart Graham Stuart Parliamentary Under-Secretary (Department for International Trade)

We have set out the potential impacts of Free Trade Agreements in our published Scoping Assessments for the US, Australia, New Zealand and CPTPP. An Impact Assessment has also been published on the recently signed agreement with Japan, which shows that it goes beyond the existing EU deal, providing a long-run boost to the UK economy of around £1.5bn, compared to a situation without the deal. Output in the North West and Wales could increase by £64 million and £34 million respectively.

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