§ Mr. GogginsTo ask the Secretary of State for Trade and Industry if he will make a statement on the relationship between British Trade International and the Invest in Britain Bureau. [124030]
§ Mr. CabornI am pleased to announce, also on behalf of the Minister of State, Foreign and Commonwealth Office, my hon. Friend the Member for Leeds, West (Mr. Battle), that the Invest in Britain Bureau will move alongside Trade Partners UK (the new brand for the Government's trade services) under the British Trade International umbrella, with Sir David Wright as the single Group Chief Executive of British Trade International. The Board of British Trade International will remain under the chairmanship of DTI and FCO Ministers and its responsibilities will be enlarged to cover inward investment. This will lead to more coherent presentation—and, over time, management—of the Government's international trade and investment activities at home and overseas. It builds on an issue which was identified in the Cabinet Secretary's 1999 review of export promotion.
The Invest in Britain Bureau will retain a distinct identity within the enlarged organisation and will continue to have its own Chief Executive. We plan to review the IBB brand, building on work which has already been undertaken following the 1998 Competitiveness White Paper. The name of the umbrella organisation will also be reviewed in the light of these changes.
This announcement heralds important advantages for business. The new, combined organisation will focus on the single goal of developing business competitiveness in the UK, as it interfaces with the global marketplace. Working under one umbrella the two operations will 525W focus on investment into the UK from overseas, on opportunities for business growth from investments abroad and on the broad spectrum of trade development and support at national, regional and local levels.
The new arrangements will strengthen and better co-ordinate the relationship between investment and trade activities in central Government, devolved Administrations and Regional Development Agencies, each of which will continue to be represented on the Board of British Trade International. The enlarged responsibilities of British Trade International will further strengthen the close relationship between trade and investment work in the network of commercial offices in overseas posts, focusing them on economic advantage for the UK, whether through new opportunities for international trade or for investment in this country by overseas firms or partnerships.