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Cameron aims to double UK trade with China

By Tim Montgomerie

David Cameron, now in China, wrote for this morning's Wall Street Journal about the aims of his visit. He set out the hope for a doubling of UK trade with the world's fastest growing economy. The article had three major themes:

  • Possibilities for greater US-UK bilateral trade: "No other country can offer the same unique advantages, whether our timezone, our language, or our universities—which include six of the best in Europe and two of the top three globally. In fact the U.K. is now China's top European partner for joint research, which has more than quadrupled in a decade...On this visit alone, Britain is set to sign new contracts worth billions of dollars involving companies across the U.K. and cities all over China. It is the breadth of sectors and the range of companies involved that is most promising of all. Many small and medium-size enterprises from Britain will be expanding into China in areas such as low-carbon growth, urban design and information and communication technology...This is in addition to at least $5 billion worth of business that British companies have secured as part of the Airbus contract concluded with China last week and a further $3 billion of investments by Tesco to develop new shopping malls over the next five years."
  • Working together on lifting protectionism: "Both Britain and China have a huge stake in expanding global trade. U.K. Business Minister Vince Cable was here for trade talks yesterday, and Finance Minister George Osborne will today seek to further the cooperation between our two countries through the economic and financial dialogue. On the eve of the G-20 we will be working together to do everything possible to drive progress on a Doha trade round that has frankly gone on for far too long. Next year has to see the deal done, and that means action now."
  • Common interests including climate change and global security: "Our countries have a very important political relationship, which we wish to nurture in the years ahead. As China's star rises in the world, so does its stake in global stability—in the political stability necessary to keep trade routes open and energy supplies flowing. That is an interest we share. I will be meeting China's current and future leaders, because Britain and China have long-term shared interests stretching across climate change and energy, international development and global security."

Read the full article here.

Other coverage of the China visit on ConHome:


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