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<p>The UK’s engagement with China on the Belt and Road Initiative (BRI) is focused
on practical cooperation on infrastructure projects, including pragmatic steps and
collaboration to help ensure that projects are delivered in line with the highest
economic, environmental, social and financial standards in order to deliver sustainable
development outcomes and opportunities for UK and international businesses.</p><p>
</p><p>UK firms have a global reputation for ensuring long-term efficiency and sustainability
are built into infrastructure projects, making them natural partners for Chinese firms’
extensive project delivery capacity.</p><p> </p><p>The UK has no plans formally to
join the BRI. But the UK is keen to work closely with China to deliver practical cooperation
on the potential opportunities from the BRI.</p><p> </p><p>At the 10<sup>th</sup>
UK-China Economic and Financial Dialogue in June, I, as the Minister for Investment
at the Department for International Trade (DIT), signed a Departmental Memorandum
of Understanding with China’s National Development and Reform Commission on Infrastructure
Cooperation in Third Countries. It is a technical agreement that focuses on facilitating
collaboration between UK and Chinese firms on projects overseas. Such infrastructure
projects offer potential for UK companies across a number of sectors, including the
construction sector, and the UK Government will provide support to UK companies as
appropriate.</p>
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