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11th Session of China-UK Trade and Economic Joint Committee Held in Beijing

MOFCOM

2014-06-09

 

On May 28, Chinese Commerce Minister Gao Hucheng and British Secretary of State for Business, Innovation and Skills Vince Cable co-chaired the 11th session of Sino-UK Trade and Economic Joint Committee. The two parties reviewed the development of bilateral economic and trade relations and the work of the committee’s working groups in recent years, and discussed multilateral trade policy coordination and other issues of common concern. The two parties announced the establishment of a standardization commission under the framework of the committee to strengthen bilateral cooperation in the field of standardization.

Gao said that the UK is China’s third largest trade partner and the second largest source of actual investment in the European Union, and a major destination of China’s investment overseas. At present, China-UK economic and trade cooperation boasts many features, such as growing economic and trade cooperation despite adverse circumstances, obvious achievements in bilateral investment, and great potentials of cooperation in new fields. China appreciates UK’s standpoint of advocating trade liberalization and positive attitude to promote feasibility study of China-EU FTA. China is ready to have academic exchanges with UK.

To further develop bilateral economic and trade relations, Gao said, China and UK should broaden their cooperation in trade in service, and promote cooperation in infrastructure like nuclear power and high-speed rail. He hoped that UK would continue to play an active role in driving China-Europe high-tech cooperation.

Cable agreed with Gao and said that since 2008, trade between China and UK has kept continuous and rapid growth. UK welcomes Chinese enterprises to invest in UK and expand investment scale. UK is willing to strengthen cooperation with China in trade in service, high technology, and infrastructure like nuclear power and high-speed rail. UK is ready to play an active role in the development of China-Europe economic and trade relations.

After the session, the two ministers co-signed the achievements list of the 11th session of Sino-UK Trade and Economic Joint Committee.

 

 
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