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China, Britain Promise to Endorse Free Trade and Promote Open Economy

By | Feb 17, 2017 11:32 AM EST
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China and Germany Free Trade.

The pledge to deepen the economic cooperation was made during a meeting between Chinese Foreign Minister Wang Yi and his British counterpart Boris Johnson in the German city of Bonn. Both foreign ministers met on the sidelines of G20 Foreign Ministers Meeting.(Photo : Getty Images. )

China and Britain have made a fresh vow to promote free trade and work on building a liberalized global economy as both countries speedup their efforts to start the much talked about "golden era" in their relationship, Chinese state media Xinhua reported on Thursday.

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The pledge to deepen the economic cooperation was made during a meeting between Chinese Foreign Minister Wang Yi and his British counterpart Boris Johnson in the German city of Bonn. Both foreign ministers met on the sidelines of G20 Foreign Ministers Meeting.

Wang said both nations would enhance cooperation on vital projects such as the Hinkley Point Nuclear Project and also seek to consolidate collaboration on trade issues through high-level exchanges.

Johnson responded by saying that Britain will continue to work on strengthening its relationship with China on international affairs.

The British government has stated that it is hopeful that China will sign the free trade agreement as soon as it leaves the European Union later this year. It is equally hopeful that the Brexit issue will not adversely affect Chinese investment into the country.

Last year, China and Britain's bilateral relationship was temporarily hit by a row over the Hinkley Nuclear Project. British Prime Minister Theresa May postponed the ambitious nuclear project in July, after citing security concerns over Chinese investment.

Although May approved the project a couple of months later, her initial decision to defer the project did not quite go down well with the Chinese government. However, the British leader wrote a special letter in August to the Chinese leadership before approving the Hinkley project in a bid to repair the ties between both nations.

May is now expected to visit China later this year to attend the new Silk Road Summit. This would be her second visit to the Asian country in less than a year. She visited the country to attend the G20 summit in September last year.

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