Commons Sense

House of Commons · Ministers' Questions

Trade with Israel

Thursday 21 April 2022 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 0 Not answered 0

Key points

  • Ministerial Department has agreed to negotiate an ambitious free trade agreement with Israel.
  • Consultation has been completed and responses are being analyzed for launching formal negotiations.
  • Honorable Member urges Minister to prioritize the trade deal for economic benefits across the country.

Topics (select to filter)

Questions & Answers

Q1 Robert Largan
Business & Trade
Context

The MP inquires about recent steps to increase UK trade with Israel, likely prompted by a desire for economic growth and bilateral cooperation.

Question

What recent steps her Department has taken to increase trade with Israel?

Answer from Ranil Jayawardena

I am thrilled that our two Prime Ministers have agreed to negotiate an ambitious free trade agreement, with exciting new provisions in digital, data, technology, services and innovation. We have completed our consultation and are analysing the responses now, with a view to launching formal negotiations, along with others, later this year.

Answered
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Q2 Robert Largan
Foreign Affairs Business & Trade
Context

The MP, referencing services as a significant portion of both economies, urges the Minister to ensure that any future deal includes provisions for service-related trade opportunities.

Question

I refer Members to my entry in the Register of Members' Financial Interests. I welcome the Government's commitment to negotiating a trade deal with our great friend and ally Israel, which will be of huge benefit to lots of businesses in High Peak and across the country. May I urge the Minister to go further and ensure that any deal does not just include products but looks at services, which make up around 70% of both the UK and Israel's economies? It is an area in which we are both world leaders, and there would be much mutual benefit.

Answer from Ranil Jayawardena

Absolutely. My hon. Friend correctly points out that our two economies have strong service sectors but our current deal predominantly caters for trade in goods. That is why we intend to negotiate a more ambitious, comprehensive and innovation-friendly trade deal, which will open up opportunities for British businesses in areas such as tech, data and digital. My hon. Friend will be aware that next month we are hosting the first ever joint innovation and investment summit between our two countries. That will be a key moment as we deepen our relationship, creating opportunities to increase trade and investment between our nations, create new jobs and boost wages.

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