The International Trade Committee hears from Samsung and techUK, the trade body for the technology industry. The session examines Samsung's experience of trade with developing countries and what the Government could do to facilitate such trade.
Wednesday 28 March, Committee Room 16, Palace of Westminster
At 10.00 am
- Giles Derrington, Head of Policy: Brexit, International and Politics, TechUK
- Aleyne Johnson, Head of Government Relations and Citizenship, Samsung UK
Unilateral trade preferences
The UK currently grants unilateral trade preferences to developing countries through the EU's generalised scheme of preferences (GSP). In addition, it also trades with some developing countries under the terms of the EU's Economic Partnership Agreements.
The Government had said that it will introduce its own unilateral trade preference schemes after Brexit and the Taxation (Cross-Border Trade) Bill, which was recently introduced to Parliament, provides the legislative framework for it do so. It has also said that it will seek replicate the EU's Economic Partnership Agreements.
Samsung's existing trade relationship with Vietnam
In this session, the Committee will hear the perspective of a business that trades with developing countries, taking Samsung’s existing trade relationship with Vietnam as a case study.
Vietnam, which has been named by the Department for International Trade as one of its twenty High Growth Markets, is currently granted unilateral preferential access to the EU under its GSP. It is eligible for standard GSP, which means it receives zero or reduced tariff access on 66% of product lines. Samsung has around 130,000 employees in the country, and operates three manufacturing plants.
In addition to Samsung, TechUK will provide a broader perspective on behalf of the tech industry. It has over 950 members, who collectively employ approximately 700,000 people – half of all tech sector jobs in the UK.
The Committee is expected to focus on the extent to which TechUK members rely upon trade preference schemes and trade agreements, how supply chains are affected by the different arrangements in place, and what support Government could provide in order to encourage investment in and trade with developing countries.