August 24, 2018
UK and China enters a dairy products partnership worth £240 million
UK International Trade Secretary, Dr. Liam Fox has announced that UK received China's stamp of approval for dairy product exports, including cream and yoghurt made using milk sourced from other countries.
The deal is said to be worth £240 million (US$307.4 million) and spans over a period of five years for the UK dairy industry.
UK and China have agreed to increase flexibility in the supply chain, meaning producers in Northern Irelands, for example, can export products made using milk from across the border.
Dr. Fox made the announcement whilst attending a meeting of the UK-China Joint Economic and Trade Commission (JETCO), in Beijing.
"This is my fourth visit to China this year and I am delighted to see the completion of this deal, bringing significant benefits to dairy producers across the UK at a time when British food and drink exports are at a record high," Dr. Fox shared.
Environment Secretary, Michael Grove added, "Our world-class dairy producers already exported £1.7 billion (US$2.18 billion) worth of produce per year. This milestone will help unlock the UK food and drink industry's full potential, forging new trading relationships around the globe."
"This step shows we can be a truly outward-looking Britain, outside the European Union," Grove concluded.
Source: Belfast Telegraph