London, Jan 31 (PTI) British Prime Minister Keir Starmer has concluded his visit to China claiming to have secured billions of pounds worth of export and investment deals and bringing “stability” to previously strained relations with Beijing.
Over the course of his three-day visit this week, the UK and China clinched 2.2 billion pounds in export deals, around 2.3 billion pounds in market access pacts over five years and hundreds of millions worth of new investments, Downing Street said in a statement released on Friday.
From Scotch whisky tariffs slashed in half to 5 per cent and growth in Brompton bike sales to AstraZeneca’s pharmaceutical investments and a new World Snooker Tour in China, the UK government claimed big wins for its industry across all major sectors.
“We are bringing stability, clarity and a long-term strategy to how we engage with China, so we can bring home the benefits for businesses and for working people,” said Starmer.
“Engaging with China is how we secure growth for British businesses, support good jobs at home, and protect our national security,” he said.
From the Chinese end, entertainment brand POP MART – the producer of viral toy Labubus – confirmed plans to establish London as its regional hub and open up to seven stores in the UK, creating over 150 jobs.
Chinese global automotive manufacturer Chery Commercial Vehicles has chosen Liverpool as its European headquarters and energy storage manufacturer HiTHIUM’s planned investment is expected to bring 200 million pounds and 300 “high-quality” jobs to the British economy.
“We leave China having put our relationship with one of the world’s biggest economies on a stronger footing, unlocking billions for the UK, and setting the course for new commercial partnerships,” said UK Business and Trade Secretary Peter Kyle.
“This shows that consistent and clear-eyed engagement is the right approach proving the UK doesn’t need to choose between our trade partners,” he said.
According to official statistics, China is the UK’s third-largest trading partner with UK exports to China supporting 370,000 British jobs. The prime ministerial delegation of nearly 60 British business and cultural representatives also concluded with a series of agreements aimed at expanding market access for UK firms across services, agriculture, food, retail, sport and life sciences. A new food safety cooperation mechanism is designed to strengthen collaboration between authorities in China and the UK.
It will allow the UK to take advantage of measures to speed up import approvals, reducing overheads for British companies seeking to enter China’s fast-growing market, Downing Street said.
From Shanghai, Starmer left for Tokyo for the Japanese leg of the visit this weekend for talks with Prime Minister Sanae Takaichi.
“Outside of Europe and the US, Japan is the biggest investor into our economy and there’s 1,000 Japanese businesses supporting, I think, 150,000 jobs in the UK. So, there’s a lot for us to discuss,” he told reporters en route on Saturday. PTI AK GSP GSP
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