Free Trade Agreement
Negotiations: South Korea
The following is an extract from Business and Trade questions on
Thursday 7 March 2024.
Sir
On Tuesday, in my capacity as trade envoy, I attended the Korean
embassy for the signing of a memorandum of understanding on the
joint development of a small modular nuclear reactor—just one
area in which the business between our two countries is growing
ever stronger. Will my right hon. Friend press ahead with the
enhanced free trade agreement, which will offer huge
opportunities to build on the existing £17 billion trade
relationship?
My right hon. Friend is absolutely right. In the UK, of course,
we have our own, superb Rolls-Royce model
of small modular reactor as well. He is right about the
importance of our growing trading relationship with Korea. As a
former Secretary of State for Culture, Media and Sport, he will
also know that 71% of our services trade with Korea last year was
delivered digitally.
[Official Report, 7 March 2024, Vol. 746, c. 950.]
Letter of correction from the Minister for Trade Policy, the
right hon. Member for Chelsea and Fulham ():
An error has been identified in the response given to my right
hon. Friend the Member for Maldon (Sir ) in Business and Trade
questions. The reply should have been:
My right hon. Friend is absolutely right. In the UK, of course,
we have our own, superb Rolls-Royce model
of small modular reactor as well. He is right about the
importance of our growing trading relationship with Korea. As a
former Secretary of State for Culture, Media and Sport, he will
also know that 79% of our services trade with Korea in 2021 was
delivered digitally.
