China's economic power makes it "not to be underestimated", Britain's new business minister Peter Kyle said during the first trade talks with Beijing since 2018, reports „Reuters“, reports News.bg.
Kyle, who is on his first visit since his appointment last week, will resume talks within the framework of the Joint Economic and Trade Commission between the UK and China (JETCO). He stressed that better trade relations depend on overcoming the long-standing dispute over new embassies.
The new minister aims to remove trade barriers worth 1 billion pounds over five years, especially in agriculture, automotive and professional services. But a decision expected next month by Britain’s Department for Housing on Beijing’s plans to build Europe’s largest embassy in London could threaten those ambitions. British politicians and allies have warned that China could use the site for espionage.
“China, because of its emerging economic status, is not just something that cannot be ignored, it is desirable to engage with,” Kyle said. Asked whether Britain should follow the European Union in its drive to “de-risk” the $19 trillion economy and focus on a domestic industrial strategy, he added: “The fact that China presents so many opportunities, but also so many uncertainties, should not deter us. It should engage and motivate us.
The British Labour government, which took office in July last year after 14 years of Conservative rule, is seeking closer economic ties with markets outside the European Union. Attracting new investment from China, which will create jobs, especially in the northern industrial hub, is central to this strategy.
Kyle said British Prime Minister Keir Starmer was eager to visit China, possibly in early 2026.