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China and Britain enjoy a bright future in their cooperation in economy, trade and other aspects, Wang Mengkui, director of the State Council Development Research Center, said in Beijing Thursday.
Wang said at the fourth UK-China Forum that both China and Britain are countries of importance in the world who have good relations. Bilateral economic, trade, technological and cultural exchanges keep expanding, Wang added.
Among European Union (EU) members, Britain is China's second largest trading partner, said Wang, adding that bilateral trade rose to US$11.4 billion in 2002 from US$765 million in 1980.
However, Wang said, the trade in 2002 between China and Britain was only 1.8 percent of China's total foreign trade and Britain's accumulated investment to China accounts for only 2.4 percent of all foreign investments to China. There is much room for economic and trade relations to expand, said Wang.
Given the fast increase of China's economy and market and the steady growth of Britain's economy, a broad prospect for bilateral cooperation is expected, said Wang.
Li Jianhong, executive vice-president of China Ocean Shipping Corporation (COSCO), said at the forum that COSCO has established friendly relations in seaman services.
The forum, a high-level, non-governmental gathering, was initiated by heads of government of China and Britain in 1998 when British Prime Minister Tony Blair visited China.
(Xinhua News Agency October 31, 2003)
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