The Prime Minister has hailed a set of agreements between the UK and China as “a signal to the whole of the world” that nations can work together and avoid a retreat to protectionism during the economic downturn.
Speaking at a press conference with Chinese Premier Wen Jiabao in London, the PM said that the agreements, which include a memorandum of understanding on the promotion of UK trade in regional cities in China, would help double the UK’s exports to the country to £10 billion by 2010. The PM said that he and Mr Wen were in agreement that protectionism posed the “greatest threat” to a resolution of the global recession.
The PM said:
“[This agreement] is a signal to the whole of the world that we will work together, cooperating jointly, so that we can come through the world downturn and make our global economy a more successful and prosperous economy for all in the future.”
Mr Brown added that the UK and China supported the reform of international institutions and the creation of an early-warning system for the global economy. The two countries would push these and other proposals at the London Summit of G20 nations in April, he said.
The PM added that he had also discussed human rights issues as part of the UK-China human rights dialogue and that he urged further discussions on the underlying issues regarding Tibet.
Premier Wen said that the financial crisis had given some “hard lessons” and promised to work with the international community to find a solution.
Speaking at the Institute of Directors before the press conference, Mr Wen said that no country could face the current economic difficulties alone and that it was important to promote trade liberalisation through, for example, concluding the Doha round of talks on a world trade agreement.
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