Investment and Trade: Gulf States
The question
To ask the Chancellor of the Exchequer, what steps her Department is taking to monitor delivery of the £6.4 billion of trade and investment commitments announced during her visit to the Gulf.
Answered by Lucy Rigby
Whilst in Riyadh, the Chancellor welcomed a total package worth £6.4bn in mutual trade and investment. This included both private commercial deals and a Memorandum of Understanding between UK Export Finance (UKEF) and the Public Investment Fund (PIF) of Saudi Arabia. HMT will be able to monitor UKEF financial exposure in Saudi Arabia via regular reporting and UKEF’s annual accounts. Commercial agreements are a matter for the relevant companies.
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