Members of the Trade Out of Poverty APPG met a senior delegation from Chinese think tank CAITEC and from the Ministry of Commerce during their recent visit to the UK as part of IDS-led project on China-UK Cooperation on Trade and Investment in Poverty Reduction.
The China-UK Cooperation on Trade and Investment in Poverty Reduction project was launched earlier this year in Beijing, by the UK Secretary of State for International Development, Justine Greening, and China’s Assistant Minister of Commerce, Wang Shouwen. At the time of the launch, the Secretary of State said “This partnership has the potential to lead to multiple wins, for the African nations themselves as we build up the evidence base on their specific needs and priorities in those countries, and for the UK and China as well.”
Senior Economist, Shantanu Mitra introduced the project, and said, “the purpose of today’s meeting is to help generate a better understanding on both sides of approaches, range of policy instruments and the strategy being followed by the Chinese and UK governments with regards to supporting African trade, and explore where there might be synergies.”
The wide-ranging discussions focused on how the UK and China can work more closely together to address pressing global challenges such as poverty and climate change and the opportunities and challenges inherent in closer cooperation.
The project is still at its scoping phase, but Mr Hongbin Ren, vice president of CAITEC, said “although we are still halfway through the research process, our current findings are already showing that China and the UK are both important trading and investment partners for Africa.”
Bingjian Kang, Director of International Cooperation at MOFCOM, said “I hope our discussions will inspire new initiatives for future (more concrete) collaboration between China and the UK.”