00:00Wang Yi's visit is going to be this reciprocal diplomatic gesture from China.
00:05David Lammy, the Foreign Secretary of the UK, visited China in October last year, as you pointed out from the beginning.
00:11And since the Labour government took office there, we have been seeing a plethora of high-level diplomatic exchanges between the two countries.
00:19David Lammy, last year in October, after that, led to the meeting between Chinese President Xi Jinping and UK Prime Minister Sir Keir Starmer
00:27at the sidelines of the G20 Summit in November in Brazil.
00:31And after that, we know UK Finance Minister Rachel Reeves visited China in January,
00:36securing this US$730 million worth of deals for the UK economy for the next five years.
00:44So Wang Yi's visit will restart the 10th Strategic Dialogue, which has been effectively suspended since 2018.
00:53So it's been seven years already, and under the framework, both parties are expected to talk about trade, climate action,
01:01and global and regional security, and of course, through issues such as Hong Kong and Xinjiang and Taiwan.
01:07And the significance of this meeting is both parties are willing to talk.
01:11They're willing to come back to the negotiation table at this point.
01:14But still, the Labour government's stance on China is one of strategic and cautious cooperation and challenge,
01:21while China calls for long-term engagement and stability.
01:25So a lot to talk about. Foreign Minister Wang will then visit Munich in Germany and then Ireland. What will he do there?
01:32So Wang Yi is regular at the Munich Security Conference. Last year, he was there.
01:36I also went to the event to cover it, and he addressed China's role as a force for stability.
01:43In a turbulent world, this year, as the spokesperson of the Chinese Foreign Ministry just now said,
01:49he will focus on China's stance on major international issues.
01:52And after that, he headed for Ireland. China and Ireland have enjoyed a rather cordial relationship.
01:58The establishment of their diplomatic ties could go back to 1979.
02:03And also, Ireland is one of very few EU countries with which China has fewer tensions at this point.
02:11And Chinese Premier Li Qian visited Ireland last year in January, solidifying bilateral ties.
02:16Of course, investment and trade is still considered the cornerstone of bilateral ties.
02:21China is Ireland's largest trading partner in Asia.
02:24And Ireland is one of the top EU exporters to China, maintaining a trade surplus with China.
02:30Some of its key exports include pharmaceuticals, medical devices, and agricultural products.
02:36If you go to a supermarket in Beijing or Shanghai, you can easily find Irish whiskey, classic, beef and lamb, and dairy products.
02:44For China, Ireland is considered China's gateway to Europe, especially after Brexit.
02:51And Chinese investments are focused on technology, finance, and real estate.
02:55Some of the notable companies, including Huawei and TikTok, they are all operating in Ireland.
03:02Part of the reason is Ireland's relatively lower corporate tax rate, which stands at about 12.5 percent compared with other EU countries.
03:11So the China-Ireland relations look positive but cautious, as Ireland has to balance its economic ties with China with its commitment to EU policies.
Comments