UK Trade with EU: North East Somerset and Hanham
The question
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of the revised UK-EU Trade and Cooperation Agreement on North East Somerset & Hanham constituency.
Answered by Mr Douglas Alexander
The deal that the Government struck with the EU delivers on what the British public voted for last year. It slashes red tape and bureaucracy; boosts British exporters; and will add nearly £9 billion to the UK economy by 2040. This will benefit the South West of England, whose largest trading partner is the EU, constituting 44.1% of South West exports of goods and 47.8% of imports of goods in 2024.
Additionally, we signed a Security and Defence Partnership, which will boost defence procurement opportunities in the nearby aerospace industry cluster.
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