EU and China on the brink of sealing historic trade pact
The European Union and China are close to signing a trade and investment pact, according to multiple reports.
The deal would be the first fissure in trade policy to develop post-Brexit between the UK and the continental trading bloc.
The pact is said to open up China’s manufacturing and construction sectors to EU companies.
Whilst Chinese firms are believed to be set for easier access to energy markets and infrastructure.
The UK has distanced itself from China in recent years, notably banning Huawei from involvement in the country’s nascent 5G network.
Tory backbenchers are amongst the most vocal critics of the Beijing regime, which amongst other criticisms has faced international opprobrium for the treatment of Uighur Muslims, a minority group in the country believed to be under serious repressive measures.
The UK leaves the European Union’s single market and customs union just before midnight on December 31.
A post-Brexit trade deal signed by the Prime Minister on Christmas Eve is still being analysed by experts.
However, new regulations and restrictions – including import and export certificates – will come into place.