International Trade Minister hosted a trade roundtable to
help UK business secure contracts for Chinese investment
in Pakistan.
China is supporting $51 billion of infrastructure development in
Pakistan as part of the ‘China Pakistan Economic Corridor’
(CPEC) to
develop key infrastructure projects like roads, railways and
power stations which will modernise Pakistan’s economy and boost
access to trade.
It is part of China’s broader ‘Belt and Road Initiative’ to
replicate the ancient Silk Road trade routes with modern trading
relationships and investments across Asia, the Middle East and
into Europe.
met yesterday (4 April) with
leading UK businesses, policy experts and senior representatives
of the Chinese and Pakistani governments as the UK is poised to
be a key partner of CPEC, ahead of a
larger CPEC conference in
Islamabad in May being hosted by the UK.
International Trade Minister said:
Britain is a country of free-trade influence and can be an
important partner for China and Pakistan in the delivery of
huge infrastructure projects that are being planned between the
2 countries.
As part of an outward looking Global Britain, we have a clear
ambition to increase trade with both China and Pakistan and UK
businesses are well placed to capitalise on the new
opportunities the region.
Participants in the roundtable included the Chinese Ambassador,
Pakistani High Commissioner to the UK and UK High Commissioner to
Pakistan. As well as experts from CityUK, the Royal United
Services Institute and the China Britain Business Council.
Businesses including HSBC, Deloitte and Standard Chartered also
discussed how they and other British firms can support the
delivery of CPEC.
A joint statement in 2015 between the UK and Chinese governments
committed both countries to support each other’s commercial
co-operation in new markets, including the Belt and Road, and the
$51 billion being invested by China in Pakistan presents big
opportunities for UK businesses in the next few years.
