I would say that it is pleasure to follow the hon. Member for Harrow West (Gareth Thomas), but he is so pessimistic and full of doom and gloom that he makes me think that he is the Goldilocks of international trade. We are always in the same place when we debate these issues with Labour Members, because we cannot sign trade agreements quick enough for them or perhaps we take too long. In fact, we sign trade agreements when they are good for our businesses, our producers and consumers—that is exactly where we must be.
The hon. Gentleman talks about membership of the CPTPP and says that there are no parameters to stop new members, but in her opening remarks the Secretary of State made the point about the Auckland principles and the fact that there has to be a consensual approach to new membership. The Opposition criticise our record on international trade and the agreements we have signed, discounting the fact that we have: an agreement with Australia and New Zealand; three memorandums of understanding with American states; 75 roll-over deals; discussions under way with the Gulf Co-operation Council, Israel and India; and now accession to the CPTPP, if we pass the Bill. The purpose of the Bill is to change our legislative programme to ensure that ratification can take place; that is why we are here and what we are debating.
I am delighted to be a member of the Business and Trade Committee. I welcome that the CPTPP is our accession to the fastest growing region in the world, and that it will give huge geopolitical value to the UK and what we do with our friends and allies around the world. If anyone wants something to send them to sleep, they can read my report, “Looking East”, for the Centre for Policy Studies. We are joining the leading comprehensive free trade agreement, with every forecast pointing to the value that this body will play not just in the next 10 years, but in the next five; we have to recognise those benefits.
As has been said, in nearly every case, forecasts undervalue free trade agreements, not least because of the modelling but also because, as free trade agreements are signed and accessions completed, businesses start to take advantage of the agreements and grow as a result.