China Transcript at G20 summit
Transcript @G20 Summit, China: Prime Minister Theresa May's press conference – 5 September 2016
It has been an opportunity to showcase Britain
as a bold, outward-looking nation.
We are the fifth largest economy in the world –
the second fastest growing major economy in
the world last year.
We are ranked in the top 6 countries in the
world as a place to do business. We have
record employment. And the deficit has been
cut by almost two-thirds since its peak in
2010.
So we can be confident about the fundamental
strengths of the UK economy and optimistic
about the role we will forge for the UK –
building on our strength as a great trading
nation – in the future.
And here in Hangzhou, I have had the chance
to talk to other leaders about the role that the
United Kingdom will play to advance free trade,
to make sure the world’s economies work for
everyone, and to confront the global challenges
of terrorism and migration.
Let me say a few words on each.
Trade
First, free trade.
Britain has a proud history as a trading nation
and we have long been one of the strongest
advocates of free trade.
A rules-based, open and inclusive global
trading system can act as a catalyst for
sustainable economic growth and the right
trade agreements can be the greatest anti-
poverty policy of our time.
That’s why at this summit we have agreed to
oppose a retreat to protectionism.
As G20 countries, we have extended the
rollback of protectionist measures until at least
the end of 2018.
We have committed to ratify by the end of this
year the WTO agreement to reduce the costs
and burdens of moving goods across borders.
And we have agreed to do more to encourage
firms of all sizes, in particular SMEs and
female-led firms, to take full advantage of
global supply chains.
And as the UK leaves the EU, I have set out
our ambition to become the global leader in
free trade.
In my bilateral meetings, I have signalled our
determination to secure trade deals with
countries from around the world.
The leaders from India, Mexico, South Korea
and Singapore said that they would welcome
talks on removing the barriers to trade between
our countries. And the Australian trade minister
will visit the UK this week to take part in
exploratory discussions on the shape of a UK-
Australia trade deal.
And later this week, I will chair a meeting of
the Cabinet Committee on Brexit and
International Trade to discuss how the
government should pursue an ambitious trade
strategy and to work out which markets we
should prioritise.
Economy for everyone
As we do more to advance free trade around
the world, so we must do more to ensure that
working people really benefit from the
opportunities created by free trade.
This discussion goes to the heart of how we
build an economy that works for everyone.
It is not enough just to take a hands-off
approach. We need bold action at home and
collective action abroad.
In Britain, we are developing a proper industrial
strategy so more people can share in our
national prosperity through higher real wages
and greater opportunities for young people.
We are investing in infrastructure to ensure our
regions are better equipped to seize the
benefits of trade.
And, to restore greater fairness, we will bring
forward a consultation this autumn on
measures to tackle corporate irresponsibility –
cracking down on excessive corporate pay and
poor corporate governance, and giving
employees and customers representation on
company boards.
Here at the G20, we have decided to do more
to stop aggressive tax avoidance and to fight
corruption.
We have also agreed to work together to
address the causes of excess production,
including in the steel market. And we will
establish a new forum to discuss issues such
as subsidies that contribute to market
distortions.
It is vital that we deliver action in all these
areas if we are to retain support for free trade
and the open economies which are the bedrock
of global growth.
Global challenges
Finally, we have discussed some of the
greatest threats we face to both our prosperity
and our security.
We reaffirmed our solidarity and our resolve in
the fight against terrorism.
We welcomed the progress that has been made
to cut off terrorist financing and discussed the
need for proper enforcement of the UN
sanctions regime to prevent funding for any
terrorist organisation.
As we make progress in the fight against
Daesh, it is also vital that we do more together
to manage the threat of foreign fighters
dispersing from Syria, Iraq and Libya.
And almost 1 year on from the Russian
Metrojet disaster, we must do more to improve
standards on aviation security. And the UK has
put forward a UN Security Council Resolution
on this issue which we hope will be adopted
later this month.
The migration crisis will also be on the agenda
at the UN and here today we discussed the
need for a concerted global response.
We agreed that more must be done to address
the root causes of mass migration and to
provide humanitarian assistance for refugees
and the host communities which shelter them.
I look forward to taking forward discussions on
a new approach at the meetings in New York
and under the German Presidency of the G20
next year.
Conclusion
To conclude, this has been a successful
summit.
It has demonstrated the important and leading
role that the UK continues to play in the world,
whether it is increasing the prosperity of our
citizens or tackling the issues that threaten our
security.
This is my first visit to China and I would like
to thank the Chinese government and the
people of Hangzhou for welcoming us here and
for hosting a magnificent summit in this city.
I look forward to my talks with President Xi
shortly. It will be an opportunity to discuss
how we can take forward the golden era of
relations between our 2 countries and build a
strong economic and global partnership that
works in the interests of both our countries.
Thank you.
It has been an opportunity to showcase Britain
as a bold, outward-looking nation.
We are the fifth largest economy in the world –
the second fastest growing major economy in
the world last year.
We are ranked in the top 6 countries in the
world as a place to do business. We have
record employment. And the deficit has been
cut by almost two-thirds since its peak in
2010.
So we can be confident about the fundamental
strengths of the UK economy and optimistic
about the role we will forge for the UK –
building on our strength as a great trading
nation – in the future.
And here in Hangzhou, I have had the chance
to talk to other leaders about the role that the
United Kingdom will play to advance free trade,
to make sure the world’s economies work for
everyone, and to confront the global challenges
of terrorism and migration.
Let me say a few words on each.
Trade
First, free trade.
Britain has a proud history as a trading nation
and we have long been one of the strongest
advocates of free trade.
A rules-based, open and inclusive global
trading system can act as a catalyst for
sustainable economic growth and the right
trade agreements can be the greatest anti-
poverty policy of our time.
That’s why at this summit we have agreed to
oppose a retreat to protectionism.
As G20 countries, we have extended the
rollback of protectionist measures until at least
the end of 2018.
We have committed to ratify by the end of this
year the WTO agreement to reduce the costs
and burdens of moving goods across borders.
And we have agreed to do more to encourage
firms of all sizes, in particular SMEs and
female-led firms, to take full advantage of
global supply chains.
And as the UK leaves the EU, I have set out
our ambition to become the global leader in
free trade.
In my bilateral meetings, I have signalled our
determination to secure trade deals with
countries from around the world.
The leaders from India, Mexico, South Korea
and Singapore said that they would welcome
talks on removing the barriers to trade between
our countries. And the Australian trade minister
will visit the UK this week to take part in
exploratory discussions on the shape of a UK-
Australia trade deal.
And later this week, I will chair a meeting of
the Cabinet Committee on Brexit and
International Trade to discuss how the
government should pursue an ambitious trade
strategy and to work out which markets we
should prioritise.
Economy for everyone
As we do more to advance free trade around
the world, so we must do more to ensure that
working people really benefit from the
opportunities created by free trade.
This discussion goes to the heart of how we
build an economy that works for everyone.
It is not enough just to take a hands-off
approach. We need bold action at home and
collective action abroad.
In Britain, we are developing a proper industrial
strategy so more people can share in our
national prosperity through higher real wages
and greater opportunities for young people.
We are investing in infrastructure to ensure our
regions are better equipped to seize the
benefits of trade.
And, to restore greater fairness, we will bring
forward a consultation this autumn on
measures to tackle corporate irresponsibility –
cracking down on excessive corporate pay and
poor corporate governance, and giving
employees and customers representation on
company boards.
Here at the G20, we have decided to do more
to stop aggressive tax avoidance and to fight
corruption.
We have also agreed to work together to
address the causes of excess production,
including in the steel market. And we will
establish a new forum to discuss issues such
as subsidies that contribute to market
distortions.
It is vital that we deliver action in all these
areas if we are to retain support for free trade
and the open economies which are the bedrock
of global growth.
Global challenges
Finally, we have discussed some of the
greatest threats we face to both our prosperity
and our security.
We reaffirmed our solidarity and our resolve in
the fight against terrorism.
We welcomed the progress that has been made
to cut off terrorist financing and discussed the
need for proper enforcement of the UN
sanctions regime to prevent funding for any
terrorist organisation.
As we make progress in the fight against
Daesh, it is also vital that we do more together
to manage the threat of foreign fighters
dispersing from Syria, Iraq and Libya.
And almost 1 year on from the Russian
Metrojet disaster, we must do more to improve
standards on aviation security. And the UK has
put forward a UN Security Council Resolution
on this issue which we hope will be adopted
later this month.
The migration crisis will also be on the agenda
at the UN and here today we discussed the
need for a concerted global response.
We agreed that more must be done to address
the root causes of mass migration and to
provide humanitarian assistance for refugees
and the host communities which shelter them.
I look forward to taking forward discussions on
a new approach at the meetings in New York
and under the German Presidency of the G20
next year.
Conclusion
To conclude, this has been a successful
summit.
It has demonstrated the important and leading
role that the UK continues to play in the world,
whether it is increasing the prosperity of our
citizens or tackling the issues that threaten our
security.
This is my first visit to China and I would like
to thank the Chinese government and the
people of Hangzhou for welcoming us here and
for hosting a magnificent summit in this city.
I look forward to my talks with President Xi
shortly. It will be an opportunity to discuss
how we can take forward the golden era of
relations between our 2 countries and build a
strong economic and global partnership that
works in the interests of both our countries.
Thank you.
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