Written question asked by Baroness Northover (Liberal Democrat) on Thursday, 14 December 2017, in the House of Lords. It was due for an answer on Tuesday, 2 January 2018. It was answered by Baroness Fairhead (Conservative) on Tuesday, 2 January 2018 on behalf of the Department for International Trade.

Overseas Trade: Commonwealth

Question: To ask Her Majesty's Government what assessment they have made of the scale of the potential impact of the application of most favoured nation tariffs on developing Commonwealth countries.

Answer: Most Favoured Nation (MFN) rates are the highest import tariff rates WTO members can charge one another unless part of a preferential trade agreement. 43 out of 52 Commonwealth members benefit from preferential access to the UK through EU trade arrangements designed to support developing counties. This preferential access is vital to support economic development in the recipient countries and provide benefits to businesses in the UK. This is why, as the Government set out in the trade White Paper, we have introduced legislation to establish a UK trade preferences scheme as we leave the EU. We propose that this will, as a minimum, provide the same level of access as the current EU trade preference scheme. We will also seek to replicate effects of the EU’s Economic Partnership Agreements, which are development-focused trade deals with Africa, Caribbean and Pacific countries.

Secondary information

Type: Written question
Reference: HL4218
Session: 2017-19
Subjects: Commonwealth Developing countries Import duties Overseas trade Brexit
Link: View this Written question on www.parliament.uk