The annual China International Import Expo helps bolster bilateral trade and enhance economic cooperation between China and the United Kingdom even in difficult times brought about by the COVID-19 pandemic.

British companies secured more than 430 million pounds ($593 million) in commercial deals across a range of sectors and had a very successful presence at the third CIIE, said Chris Wood, consul-general of the British Consulate-General Shanghai, in a recent interview.

According to the consul-general, many British exhibitors, including Lakeland Dairies, Savills, and Millennium Group, had formed commercial partnerships with their Chinese counterparts during the third expo in 2020. Savills also signed a cooperation agreement with the government of Yangpu district in Shanghai.

At the third CIIE, more than 100 British brands, mostly from sectors such as agriculture, food and beverage, exhibited their products at the UK’s 300-square-meter national pavilion. A series of lectures, seminars and presentations were also held to explore ways to establish closer trade relations.

The UK’s active participation in the CIIE is partly due to its booming trade with China in recent years. China, after the European Union and the United States, has become the third largest export market for the UK, said Wood.

In 2019, the overall trade volume between China and the UK reached 104.5 billion pounds, the first time it exceeded 100 billion pounds. In 2020, in spite of the downward global economic trend, the UK’s exports to China (excluding oil) grew by 3 percent.

The UK is looking forward to cooperating with China in more sectors such as cultural exchanges and innovation industries, said Wood.

Sources: chinadaily.com.cn, World Market