China-UK forum showcases importance of relationship

CGTN Europe

Chinese and British executives have gathered in London to talk business. The annual China-UK Economic and Trade forum in London was attended by both China's UK Ambassador and Britain's investment minister.  Read more : https://tinyurl.com/3pwtxf6c

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00:00This is the seventh such forum organized by the Chinese Chamber of Commerce in the UK,

00:06which represents the interests of Chinese businesses in Britain.

00:10This year's theme is Pursuing New Opportunities, Unfolding a New Chapter.

00:16This is a very important forum because of the timing and the change in external environment.

00:22We now have a new government in the UK and that's allowing a reset of the UK-China relationship.

00:29There's clear benefits from both countries collaborating.

00:32So this forum allows the key issues to be addressed.

00:35The forum attracted around 400 attendees.

00:39This meeting comes just days after Prime Minister Keir Starmer held talks with President Xi Jinping,

00:46both sides talking up the prospects of economic cooperation.

00:50But there's also growing uncertainty over how the proposed changes in US leadership

00:56will impact on world trade policies next year.

01:01China's ambassador to the UK gave this year's keynote speech,

01:05making direct reference to the historic meeting in Brazil.

01:10President Xi stressed that China and the UK, both permanent members of the UN Security Council

01:16and major economies in the world,

01:19share the responsibilities of advancing their respective national development

01:24and addressing global challenges.

01:26We stand ready to work closely with the UK government

01:30to follow up on the common understanding between our two leaders

01:35and enhance dialogue, communication and collaboration wherever possible.

01:41Total trade between the countries stood at around $120 billion in 2023,

01:47according to the UK government,

01:50but that's almost 20% down on the previous year.

01:54The new Labour government's top priority is economic growth,

01:58and the other keynote speaker was Britain's Minister for Investment.

02:02Both our countries recognize the importance of a strong UK-China relationship.

02:09Yes, there are areas that we differ on aspects of international trade and foreign policy.

02:15We can't wish these differences away,

02:17but what we can do is engage in a constructive dialogue on them,

02:22because that's how we drive growth together

02:25and realize a more prosperous future for both the UK and for China.

02:31The minister told the forum that Britain has agreed to resume

02:34the UK-China Economic and Financial Dialogue for the first time in five years

02:40and that she'll be traveling to China next year as part of a large UK political and trade delegation.

02:47Michael Vosk, CGTN, London.

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