UK sets its sights on China post-brexit with launch of Export Strategy
August 22, 2018
The British International Trade Secretary Dr Liam Fox yesterday launched a new Export Strategy for to boost exports post Brexit.
In his speech he talked about the influence of China on the global stage and how British business should look to China for opportunties ahead.
“China is expected to have 220 cities with a population of more than a million by 2030. The whole of Europe has just 35. And PWC has predicted that there will be 1.1 billion middle class Africans by 2060.” Dr Fox said.
“The shifts in global economic and demographic power – and the rise of collective wealth of developing countries that it is bringing – will shape future opportunities of free trade in the years to come. Take China – which I will be visiting later today. According to research by Barclays, over 60% of people in China would actually pay more for a product, just because they knew it was made in Britain. That’s some reputation!”
Included in the Export Strategy is information about the Chinese Belt and Road Initiative which the UK has bought into. The UK Government sees itself as well positioned to benefit from the BRI which was launched in 2013.
This initiative will provide significant investment across Asia (and further into Africa and Europe) in new infrastructure, including seaports, airports, rail freight, highways, telecoms, oil/gas pipelines and power generation. This investment will offer opportunities for UK exporters, particularly in terms of:
- project design, implementation and governance
- financial design and legal services
- equipment, clean energy, and other innovative technologies
- construction and related services
To read a full copy of the export strategy visit https://www.gov.uk/government/publications/export-strategy-supporting-and-connecting-businesses-to-grow-on-the-world-stage/export-strategy-supporting-and-connecting-businesses-to-grow-on-the-world-stage
The UK is trying to move its economy away from major exports to EU countries to countries in the East, fearing a bad deal following Brexit.