Financial Services: Economic Partnership Agreements
The question
To ask the Chancellor of the Exchequer, what assessment her Department has made of the barriers to expanding the financial services provisions within existing Economic Partnership Agreements.
Answered by Emma Reynolds
The Government published its Trade Strategy on 26 June, setting out its plan to stimulate economic growth in a rapidly changing global landscape. The Strategy sets out that the Government will consult with governments and businesses on expanding our Economic Partnership Agreements to include services. Any decision to expand the financial services provisions within EPAs will be guided by dialogue with partner countries and aligned with UK growth and development objectives.
Financial services is one of the eight growth-driving sectors identified in the Trade Strategy. The UK’s Financial Services Growth and Competitiveness Strategy, launched by the Chancellor on 15 July, sets out the Government’s commitment to ensuring the UK remains an open and connected financial centre, and to upholding its commitment to international regulatory standards. Strengthened partnerships with international financial centres around the world and a trade strategy that prioritises financial services and market access are essential for sustaining the UK’s leadership as a global financial hub and fostering economic growth.
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