Follow us on:   

China, UK sign deals worth over $30 bn
June 18, 2014, 8:10 am

 

 Chinese Premier Li Keqiang, right, and British Prime Minister David Cameron, center, return to 10 Downing Street in London from the Foreign and Commonwealth Office after a press conference, Tuesday, June 17, 2014 [AP]


Chinese Premier Li Keqiang, right, and British Prime Minister David Cameron, center, return to 10 Downing Street in London from the Foreign and Commonwealth Office after a press conference, Tuesday, June 17, 2014 [AP]

China and Britain renewed their commitment to target $100 billion bilateral trade by 2015, according to a joint statement issued in London.

At a bilateral summit, Britain welcomed Chinese investment in infrastructure such as transport and energy, particularly nuclear, high-speed rail, offshore wind power and photovoltaic projects, said the statement issued after the annual meeting between visiting Chinese Premier Li Keqiang and his British counterpart David Cameron.

Britain and China have signed trade deals worth over $30 billion during Li’s trip.

“China is the world’s largest developing country, while Britain is the world’s first industrialized nation. The deepening of China-Britain cooperation is not only conducive to the two countries, but carries global significance as well,” the Chinese premier said.

Britain is China’s third largest trade partner in the European Union.

Both sides agreed to establish a strategic partnership on infrastructure and also signed a joint statement on civil nuclear power. Rolls-Royce signed an agreement with Chinese nuclear reactor group SNPTC to work on British civil nuclear power plants.

Among the many trade deals inked during Li’s visit, British Petroleum will now supply liquefied natural gas to China worth around $20 billion. China’s state-run China National Offshore Oil Corporation (CNOOC) has also extended an agreement with Royal Dutch Shell to collaborate on LNG projects.

The two sides agreed to promote substantive cooperation on rail, including high-speed rail, in areas such as design, engineering, construction, supply operation and maintenance, on projects in China and Britain.

Earlier on Tuesday, Li also met with Queen Elizabeth II at Windsor Castle where he extended an invitation to the Queen and the royal family to visit China to boost the two people’s friendship.

An editorial in China’s Communist Party newspaper Global Times has criticized British media’s rhetorical debate over Li’s meeting with the Queen.

“Diplomacy has to be based on realistic recognition of the two countries’ power. British media had previously claimed it was the Chinese side who required a meeting with the Queen. In their reports, whether the Queen would grant an audience with Li seemed to become a bargaining chip for London. The once-powerful British Empire must now resort to such trickery to manifest its pride,” says the editorial.

The Chinese premier arrived in UK on Monday for an official visit. Britain is the first leg of his two-nation trip to Europe, which will also take him to Greece.

 

TBP and Agencies

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.