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Shanghai eager to trade with North East

One of Shanghai’s most powerful business leaders has signalled clear intentions to use an historic trading agreement as a springboard for increased trade between China and the North East of England. Mr Wang Xin Kui, chairman of the Shanghai Federation of Industry and Commerce (SFIC), yesterday called for ‘action not words’ when signing a Memorandum of Understanding with the North East Chamber of Commerce (NECC).

Mr Wang, a graduate of the University of Durham, is head of the most powerful business organisation in China’s most productive economic region and his endorsement for the trade partnership is an indication that the SFIC sees strong potential for businesses in both countries to benefit from Shanghai’s first agreement with a UK Chamber of Commerce. Mr Wang said: “Our organisation is eager to co-operate with NECC and to work in the future to grow trade between our two countries. “Signing this Memorandum of Understanding is important but what is more important is action. We have almost 30,000 members, many working in sectors similar to those being developed in the North East of England. We can see many business opportunities.”

Maggie Pavlou, NECC president, said: “There are public sector links in to Shanghai via One NorthEast but this is the first business-to-business agreement of its kind and SFIC has made it crystal clear that they are have only signed this partnership because they believe it will bring considerable benefits for both sides. “They aren’t messing around and are clear that this will only work if businesses from China get face-to-face with firms in the North East. Only then will contracts be won, partnerships be formed and foundations be established for a truly productive relationship with one of the most staggering city regions in the world.”

Shanghai has a particularly strong automotive industry and the SFIC is keen to explore potential links with the North East’s automotive parts supply chain that has been a mainstay in the region on the back of Nissan’s presence in Washington. It is also interested in developments in the fields of life sciences, technology and manufacturing. SFIC has announced plans to bring a number of companies across to the North East in September to meet compatible businesses in the region.

This was posted in Bdaily's Members' News section by Ruth Mitchell .