BRITAIN and China have agreed to look at the possibility of signing a free trade agreement after Britain leaves the European Union in 2019
BRITAIN and China have agreed to look at the possibility of signing a free trade agreement after Britain leaves the European Union in 2019. The announcement followed talks between British Secretary of State for International Trade Liam Fox and Chinese Commerce Minister Zhong Shan at the British Ambassador's residence in Beijing.
In a statement released after last Friday's talks, China's Commerce Ministry said they had discussed how to boost two-way investment and expand trade in services, reported Reuters.
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.
However, formal talks concerning a bilateral trade deal cannot commence until the UK officially leaves the EU. Free trade talks typically take many years to conclude.
Mr Zhong hopes Britain will use the opportunity of a major import fair in November in Shanghai, which President Xi Jinping is overseeing, to expand its exports to China, the statement added.
It cited Mr Fox as saying he will be leading Britain's delegation to the import fair, along with senior royal family member Prince Andrew.
