The ministry, which hosted a “British international conference” this week, said China was welcome to continue investing in non-UK resources and supported Saudi Arabia’s finances with the Newcastle United Soccer Club despite concerns over human rights.
Anne-Marie Trevelyan, the new world trade secretary, says this week’s meeting, which will be attended by 200 leaders, has “raised the rocket” of global interest in Britain, especially economically.
But he acknowledged that Britain, as an open economy, was at risk of domestic violence and that Christmas could be disrupted by global trade crises.
“The clear message we are hearing is that there will be disruptions that will last for several months,” he told the Financial Times.
Trevelyan, the steady Brexiter who replaced Liz Truss as Secretary of Trade last month, favors British Prime Minister Boris Johnson. His use of terms such as “to lead the world” and “to promote rocket” comes from the same book used by Johnson.
He noted that Britain had not complained about China or Saudi Arabia’s presence in many economic areas, despite concerns about human rights abuses. “We want those who want to make money to do this,” he said.
Trevelyan, who has been an MP since 2015, representing the North East seat of England at Berwick-upon-Tweed, was not ashamed of Saudi Arabia’s transfer to Newcastle United and has never been. “There’s not a single person who doesn’t walk the wall with excitement,” he said.
“The money comes from an independent fund for investment,” he said. “This helps the club grow.”
Chinese telecommunications company Huawei is being pushed out of Britain’s 5G network and its ministers are not concerned about China’s reaction to the UK’s nuclear program, but Trevelyan said: to work here. ”
FT has changed Trade Secrets, it should be read daily for daily trading changes around the world.
Sign in here to understand the countries, companies and technologies that are creating new economies around the world.
Trevelyan welcomes vendors and financiers to a second meeting Tuesday at the Science Museum in London, followed by a party with the Royal Family at Windsor Castle.
Officials expect the summit to raise money in the UK to mobilize some of the world’s economists, though they have not set a goal. Most of those present at the conference are from outside the UK but are already with the British.
Attendees will include Bill Gates and Larry Fink, Steve Schwarzman, Jamie Dimon and Jes Staley, respectively bosses of BlackRock, Blackstone, JPMorgan Chase and Barclays.
The summit is in line with Britain’s approach to the UN COP26 climate change conference in Glasgow next month and Trevelyan’s interest in “green” represents its transformation.
Between 2010 and 2012 he sent out several tweets denying that the helmets were melting and insisting that “the weather is not really happening”, but now he realizes that he was wrong.
“I was not impressed – I was busy doing small business at home, I had children,” she said. To be honest, that was not my intention. ”Watching David Attenborough Blue Planet and her son was epiphany.
Commenting on the UK target of 2050 net zero, he said: “It is a very difficult situation.
Trevelyan, speaking at the top of the Leadenhall building in London at a ceremony to set up new funds to connect the headquarters, said Australian and New Zealand trade “is about to end”.
He “believed” that the free trade agreement should not be signed by the US for the first time in Joe Biden’s presidency, although many in Washington are skeptical.
In the meantime, he hopes that Britain will agree to a Trans-Pacific Partnership Agreement “by the end of next year” after negotiations to enter into an agreement last month.
“It’s a very good business relationship with a number of countries like us and they have a lot of confidence in trade and good competition,” he said. The 11 members of the CPTPP are: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
He also said he wanted to develop more bilateral relations with European countries after the recent “export and export” agreement was reached with Italy at the end of the G20 summit in Sorrento.
Trevelyan, whose mother is French, spoke privately about the future of trade with their European counterparts. He also said there was no need to “melt” every fifth relationship, describing the EU as “the closest and most lovable neighbor”.
“It doesn’t mean you don’t fight with the family sometimes, but with the family,” he added. “I hope that the frustrations that have been there will be gone and that we can deal with a much stronger trade relationship.”