China and Britain start talks over trade post Brexit

China and Britain start talks over trade post Brexit

China and Britain have agreed to look at the possibility of reaching a top notch free trade agreement

British Secretary of State for International Trade Liam Fox watches the signing ceremony for memorandums of understanding between British and Chinese firms and institutions at the British Ambassador's Residence in Beijing, China August 24, 2018. Mark Schiefelbein/Pool via REUTERS

Britain has pushed a strong message to Chinese companies that it is fully open for business as it prepares to leave the EU next year, and China is one of the countries with which Britain would like to sign a post-Brexit free trade deal.

Last month, China offered Britain talks on such a deal.

In a statement released after Friday talks between Fox and Chinese Commerce Minister Zhong Shan in Beijing, the Chinese Commerce Ministry said they had discussed how to boost two-way investment and expand trade in services.

The two countries also agreed to “actively explore the possibility of discussing a top notch free trade agreement between the two sides after Brexit”, the ministry added, without giving details.

While a trade pact with China would be a political win for Britain’s government, formal talks cannot begin until it officially leaves the EU. Free trade talks typically take many years to conclude.

Published: by Radio NewsHub
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