The recent trade forum held at London's Queen Elizabeth II Centre attracted senior decision-makers and executives from over 36 countries, highlighting the ongoing potential for trade expansion between Britain and China amidst rising geopolitical and economic challenges. Participants at the forum expressed optimism about the transformative opportunities available, particularly in light of sectors like electric vehicles.

Marco Forgione, director general of the Chartered Institute of Export & International Trade, acknowledged the disruptions faced globally but emphasized the significant promise in bilateral trade. He stated that collaboration is essential to tackle pressing issues such as climate change and economic inequalities, suggesting that partnerships between the UK and China will be vital for future advancements.

John McLean, chairman of the China-Britain Business Development Centre, shared insights on the changing trade climate between the two nations. He outlined how the atmosphere has notably evolved since mid-2023, following several high-profile visits by British officials to China. McLean noted a pragmatic approach now being adopted, which he considers favorable for businesses seeking opportunities.

Underlining this sentiment, Jack Wu, managing partner at Acadia Advisory Group, remarked on the increasing interest from British companies in entering the Chinese market. With a focus on various sectors, including food and beverage, pharmaceuticals, and luxury brands, Wu indicated that British firms are effectively utilizing China's rapidly growing e-commerce platforms to navigate distribution hurdles.

Molly Ling, CEO of Shopfever Group Limited, echoed Wu’s perspective, pointing to China's expansive e-commerce ecosystem and advantageous regulatory framework as factors contributing to a competitive edge for British and European brands. She highlighted that China achieved significant milestones in e-commerce in 2023, with the market nearly double that of the United States and significantly larger than that of the UK.

In light of concerns about U.S. tariffs and their global repercussions, Forgione stressed the uncertainty these tariffs generate as their most damaging effect. He cautioned that the oscillation between tariff imposition and retraction fosters instability, shaping a challenging environment for businesses trying to strategize and plan future investments.

McLean supported this view, emphasizing that uncertainty can be detrimental for businesses, as it complicates long-term planning and investment. He suggested that China's policy consistency stands in stark contrast to global volatility, positioning it as a viable trading partner in a world increasingly marked by unpredictability.

Ling noted a shift in focus among European and UK brands, which traditionally prioritized the U.S. market but are now compelled to explore alternatives. This redirection offers opportunities for businesses to assist in navigating both the European and Chinese market contexts amid an evolving economic landscape.

Winnie Seow Mei, international markets lead at Hawksford UK Services Limited, expressed confidence in the long-term trade prospects between the UK and China. She reassured that the interest from British brands looking to make inroads into the Chinese market remains strong, suggesting that both countries are moving towards greater collaboration despite global uncertainties.