Vicky Foxcroft Labour MP for Lewisham North
Thank you to all those who have contacted me about the UK-Colombia bilateral investment treaty (BIT).
I note the issues you raise on the treaty in relation to human rights and climate change. I know that the Government has recently been asked several questions on this issue. In response, it has said it believes the UK-Colombia BIT plays an important role in the investment relationship between our two countries. It highlights that the UK has consistently been one of the leading international investors in Colombia, with a stock of total investment between our countries of £6.8 billion in 2023. It says the investment protections in the BIT ensure UK and Colombian investors are treated in line with the rule of law, and are protected against unfair, arbitrary or discriminatory treatment, and expropriation without adequate compensation. It emphasises that the BIT does not remove the right to regulate in the public interest, including in relation to the environment and human rights.
I know that under the new Government, officials from the Foreign, Commonwealth and Development Office and the Department for Business and Trade have discussed the content of the treaty with the Colombian Government, including its impact on various sectors. It says the Colombian Government has committed to work with it to ensure the agreement can continue to deliver benefits for both UK business and Colombia. I can therefore assure you that I will continue to monitor any developments on this issue, keeping in mind the concerns you raise.
More widely, I welcome the Government’s assurances that Colombia is an important partner for the UK, including on crucial shared priorities such as the environment. I am pleased at co-operation between the UK and Colombia on the climate and nature emergency. I also welcome that the UK Government designates Colombia as a human rights priority country, working with the Colombian Government and communities to address issues such as violence against women and environmental crimes.
Thank you once again to all those who have contacted me about this issue.