David Cameron heads to China for trade talks

| November 8, 2010 | 0 Comments

British Prime Minister David Cameron will head to China for trade talks, in a move designed to strengthen business with Beijing.

Business secretary, Vince Cable, and Chancellor George Osborne have already met with ministers which will see the start of three days of negotiations, with the intention of forming a “much stronger” relationship with China.

More than 40 bosses from Britain’s largest companies, including Alliance Boots, Virgin, Shell and Barclays will accompany the ministers, in a bid to increase their presence in China.

Mr Cable said: “China represents the biggest source of demand in the world for many of the products that we in the UK have to offer.”

China has recently becoming the world’s second largest economy with staggering economic growth of 10%. However, trade with Britain is relatively small, with exports to China amounting to just £7.7 billion last year.

Tomorrow, Mr Cameron will meet with China’s premier Wen Jiabao and President Hu Jintao.

Meanwhile, the Chancellor will meet with China’s international economic affairs minister to discuss issues such as the value of the yuan.

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