Free Trade Agreements Professional Business Services 2021-04-15
2021-04-15
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Questions & Answers
Q1
Direct Answer
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Context
The MP is concerned about promoting professional business services (PBS) in free trade agreements to maintain the UK's position as a leader and second-biggest exporter of PBS.
What steps she is taking to promote professional business services in free trade agreements. The UK is a world leader in professional business services and the second biggest exporter of PBS globally, with a trade surplus of £33 billion in 2018.
The UK is a world leader in professional business services and the second biggest exporter of PBS globally, with a trade surplus of £33 billion in 2018. To support this important and diverse sector, we are seeking ambitious FTA commitments in cross-cutting areas like mobility and digital, as well as tackling specific behind-the-border regulatory barriers such as recognition and professional qualifications.
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Q2
Direct Answer
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The MP is concerned about the ongoing red tape affecting businesses, especially those in Bracknell, after Brexit. He asks what actions are being taken to resolve these issues.
Will he please outline what his Department is doing to support the Cabinet Office in resolving this? This is affecting businesses in Bracknell and beyond.
DIT has very active participation in the current helplines for businesses facing issues in exporting to the EU. We participate, of course, in the Brexit business taskforce, we provide a DIT internationalisation fund for those looking to export, and we have 300 international trade advisers across the country and at posts right across the European Union.
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Q3
Direct Answer
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The MP is concerned about the professional services sector, which accounts for a huge amount of gross value added to the economy. She asks for assurance that this sector will be prioritised in future trade deals.
Can my right hon. Friend assure me that the professional services sector will be at the forefront of our minds in negotiating future trade deals? Many of my Kensington constituents work in professional services, whether financial services, law, consulting or accountancy.
My hon. Friend and neighbour puts it extremely well. Professional business services are vital for her constituency, for mine and for the whole country. Around 79% of gross value added and 80% of employment in this country is in services. As she knows, we secured special provisions for legal services in the EU agreement.
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