May seeks China trade after Brexit
HOUNDED by Brexit rows at home, UK Prime Minister Theresa May met Chinese President Xi Jinping yesterday to seek deeper trade ties after Britain leaves the European Union (EU).
May began her trip with plans to announce £9-billion (R152-billion) in business deals, an agreement to end a ban on British beef and promises to seek more trade opportunities.
But criticism in London over her domestic agenda and her handling of Britain’s contentious divorce before her arrival with the EU loomed large, prompting her to declare she was not a quitter.
May held talks with Xi at the Diaoyutai State Guest House yesterday after visiting an agricultural sciences academy.
The BBC reported that May, who was expected to raise environmental concerns, would present Xi with a box set of the Blue Planet II series, with a personal message from presenter David Attenborough.
Brexit crept into her talks with Premier Li Keqiang on Wednesday, though her Chinese counterpart reassured her that their “golden era” of relations would not be affected by London’s EU departure.
“As a trade and strategic partner of both Britain and the EU, China certainly hopes that the result [of Brexit] will be good for both sides,” Cui Hongjian said. He is the director of the European studies department at the China Institute of International Studies.
“If it comes to a double-lose result, that will also be unfavourable to China.”
China worries that Britain’s EU exit will remove a pro-free-trade force from the bloc and give rise to protectionism.
Wooing China is part of London’s broader strategy to seek deeper trade ties with countries beyond Europe’s borders after Britain leaves the EU next year.
Britain runs a £25.4-billion (R430-billion) trade deficit with the Asian giant and only 3.1% of British exports go to the country, according to IHS Markit’s Asia-Pacific chief economist Rajiv Biswas.
“A key focus for PM May’s visit will need to be on how to improve market access for UK goods and services,” Biswas said.
May said on Wednesday the two countries had agreed on new measures to improve such access, including lifting a ban on British beef exports to China within six months.
She also cautiously welcomed China’s Belt and Road infrastructure project, aimed at reviving ancient Silk Road trade routes and creating greater market access for Chinese companies. – AFP