The 15th meeting of the China UK Joint Economic and Trade Commission was held in London

On July 2nd local time, Minister of Commerce Wang Wentao and British Secretary of State for Trade and Industry Kyle co chaired the 15th meeting of the China UK Joint Economic and Trade Commission in London, exchanging in-depth views on trade, investment, and regional and multilateral cooperation.

Wang Wentao stated that at the beginning of this year, the leaders of China and the UK reached an important consensus on developing a long-term and stable comprehensive strategic partnership, which has pointed out the direction for China UK economic and trade cooperation. Both sides should fully leverage the mechanism of the China UK Joint Economic and Trade Commission to further promote trade and investment cooperation between the two countries. China welcomes the UK as the theme country for this year's "Export to China" event and will actively expand the import of high-quality products from the UK. China is willing to accelerate the joint feasibility study of the China UK Service Trade Agreement with the UK, creating favorable conditions for further enhancing the level of service trade cooperation between the two countries. China welcomes British companies to expand their investment in China and hopes that the UK can provide a fair, just, and non discriminatory environment for Chinese companies to invest in the UK. Both China and the UK are important members of the World Trade Organization and should jointly implement the outcomes of the 14th Ministerial Conference of the World Trade Organization. The Chinese side expresses serious concern over the UK steel quota measures that came into effect on July 1st and hopes that the UK will adjust the measures as soon as possible to ensure compliance with WTO rules.

Kyle stated that economic and trade cooperation is an important pillar of the UK China relationship. China's vigorous development of the service industry has provided important opportunities for British enterprises. The UK is willing to strengthen policy communication with China, expand cooperation in the service sector through the UK China Service Partnership and the feasibility study of the UK China Service Trade Agreement. The UK welcomes Chinese companies to invest in the UK and is willing to provide more certainty and predictability. The UK is willing to make good use of the UK China WTO working group with China, strengthen policy communication and coordination, and promote positive progress in WTO reform, e-commerce and other issues.

Both sides highly appreciate the progress of the working groups on investment, trade in services, export control, World Trade Organization, aviation, etc. under the Joint Committee, and look forward to each working group playing a greater role in promoting the development of bilateral economic and trade relations.

Before the meeting, Minister Wang Wentao and Minister Kyle exchanged ideas with some representatives of Chinese and British enterprises.