Cameron does the business in China

9th Nov 2010 14:22

David Cameron wants to double business between the UK and China within five years, and this week's "fruitful" trade mission to Beijing is a good start.The prime minister joined chancellor George Osborne, business secretary Vince Cable and 43 business leaders in China today.He hopes the visit will usher in "a new era of bilateral trade" and grow business between the two countries to $100bn (£62bn) by 2015, according to an interview with The Wall Street Journal."Within this, we intend to raise UK exports to China to $30bn per year over the same period to take Britain's relationship with China to a new level and the beginning of a new era of bilateral trade between our countries' remarkable achievements," he said.Cameron is aiming to deliver more than 40 deals "worth billions of dollars" during the two-day visit, from trade to low-carbon growth, to cultural and education initiatives. Rolls-Royce has done well already, sealing a $1.2bn deal to supply a Chinese airline with Trent 700 engines.Delcam, the engineering design software group whose managing director Clive Martell is part of the delegation, says it should conclude a 10-year contract with First Auto Works covering long-term software support and maintenance, worth about £500,000. The trip has secured a deal that allows the export of British breeding pigs to China and another to ensure the Chinese only market whisky made in Scotland as Scotch. Drinks giant Diageo is also hopeful that politicians can steer through its £700m acquisition of Chinese spirits giant Shui Jing Fang. Last week's Airbus contract concluded with China last week brought in at least $5bn worth of business to British companies, while Tesco set out plans to invest $3bn developing new shopping malls over the next five years.