Entities from China and the United Kingdom were united in London to discuss the development of economic and trade strategies between Chinese and British enterprises. Politicians along with several businessmen from both countries attended the said event.
Last Tuesday, the China-Britain Business Council, the China Chamber of Commerce in the UK, and the 48 Group Club jointly conducted a trade meeting to celebrate the Chinese New Year in London. Chinese Ambassador to the UK Liu Xiaoming delivered a speech and shared China's willingness to engage in developing Sino-British relations.
He claimed that the trade relations between the countries should seize major opportunities to increase their financial cooperation. He also highlighted the Belt and Road Initiative (BRI) which could also strengthen the business ties between China and the UK and provide greater innovation between them.
Liu also claimed that the Chinese and British business communities have been sharing mutual respect and trust thereby improving the business cooperation between the countries. Liu also extended the gratitude of China to the British community for recent developments. He also shared his desire for the Chinese and British communities to engage in future mutually-beneficial prospects.
Britain's Economic Secretary to the Treasury John Glen also shared a few remarks and claimed that China and Britain had been natural partners. He claimed that both countries have had broad prospects for cooperation by offering financial services and engaging in mutually-beneficial projects such as the BRI.
Furthermore, Glen added that the British and China have jointly agreed to develop clean technology and green finance in the future. He said that the common goal of both parties to alleviate climate change could also be beneficial to both economies.
In other news, Reuters reported that after the United States (US) has completed phase one of the trade deal with China, it would now focus and engage in bilateral talks with the UK. The report claimed that the China-US phase one trade agreement has modified the North American Free Trade Agreement (NAFTA). Now, the report claimed, US President Trump is focusing on Europe, post-Brexit Britain, and India.
Before the completion of phase one of the trade deal between the US and China, Trump has promised Britain that it would enhance a trade deal with the UK. At present, the US is the seventh-largest trading partner of the UK.
However, the report claimed that further negotiations between the UK and the US may surface after the US threatened to impose tariff rates on British imports if the latter would push through with its planned digital tax. According to Britain's finance minister Sajid Javid, the UK is still set on imposing the tax by April.
