§ Mrs. ClwydTo ask the Secretary of State for Trade and Industry what estimates he has available concerning the potential trade diversion from developing countries to members of the European Community when the single European market is established in(a) primary food products, (b) metal products, (c) petrochemicals and fertilisers and (d)0 manufactured food.
§ Mr. Redwood[holding answer 27 March 1990]: Completion of the single market will remove the remaining barriers to trade between the member states. This will also make it easier for overseas trading partners to do business throughout the Community. At the same time the Community is negotiating vigorously in the Uruguay round of GATT negotiations for the further liberalisation of international trade.
§ Mrs. ClwydTo ask the Secretary of State for Trade and Industry what estimates he has made of the consequences of the single European market on investment in developing countries.
§ Mr. Redwood[holding answer 27 March 1990]: Commercial investment decisions are determined by the 406W laws in force in the countries concerned. Completion of the single market, including removal of controls on capital movements by member states, should have a beneficial effect from which all the Community's trading partners can benefit.