China-Britain Agree on $ 4 Billion Trade Agreement

LONDON - Britain and China earlier this week signed a trade agreement worth 2.6 billion euros ($ 4 billion). Such cooperation is characterized by a panda lent to the garden animal Edinburgh, Scotland, for a period of 10 years.

The deal was done in London while Deputy Prime Minister (PM), China Li Keqiang held a formal meeting with Deputy Prime Minister of England Nick Clegg, on Tuesday (01/11/2011).






Li's visit to London because the British Government warmly welcomed as a sign of closer ties before Chinese premier Wen Jiabao visit to Britain next year. As for China, cooperation with the State of Queen Elizabeth it would strengthen its position in Europe which first took German and French.

The trade agreement, also includes a commitment manufacturer Jaguar Land Rover to boost sales in China by 40 thousand units this year worth a billion pounds.

"We have been successful in talks and discuss a number of issues. We are witnessing a number of agreements, including trade with a value of around 2.6 billion pounds," Clegg said as quoted by AFP.

In other agreements, oil producer British Petroleum (BP) and China National Offshore Oil Corporation (CNOOC) jointly agreed-sea exploration in the South China Sea. In addition, a petrochemical company INEOS also agreed to cooperate with China National Petroleum Corporation Oil refineries to increase investment in the UK and France