MP says new trade laws can boost British exports to aid COVID-19 recovery
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New trading laws passing through parliament can help to boost British exports and help the economy recover from the COVID-19 crisis, Banff and Buchan MP David Duguid has said.
MPs are debating the UK Trade Bill, which is the first legislation of its kind in almost 50 years.
The Trade Bill provides continuity of existing EU trade agreements and membership of the WTO Government Procurement Agreement.
It also creates an independent Trade Remedies Authority to help protect British industry against unfair trading practices, and allows data sharing and collection to make it easier for trade policy to reflect the best opportunities for British businesses.
A new tariff regime, the UK Global Tariff, has also been introduced to replace the EU’s Common External Tariff.
This will support the British economy by making it easier and cheaper for businesses to import goods from overseas, reducing costs on thousands of everyday products.
The global tariff will also protect our domestic producers by maintaining import tariffs on agricultural products such as lamb, beef and poultry . This has already been welcomed by industry leaders.
Mr Duguid said: “The Coronavirus crisis has shown the importance of keeping global trade routes open.
“Both the UK and Scottish governments have sourced PPE and medicines for our NHS from all over the world.
“Increased trade will play a key role in the recovery from the economic impact of COVID-19 and the global shutdown.
“This is no the time for protectionism – that would be the real race to the bottom.
“And contrary to sensationalist headlines; the NHS is not for sale and we will not compromise on our domestic or imported food standards.
“There are huge opportunities for companies in Scotland, which can in turn create more jobs and strengthen the economy so that we can invest more in our public services such as the NHS.”
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