APPG East Asian Business
Founded in September 2011, the Group was formed to keep East Asia at the top of the political agenda. The All Party Parliamentary Group brought together Members of Parliament and Peers to help improve the understanding of Britain’s trade with East Asia.
Its mission was ‘To explore the current and future possibilities for good and sustainable business between East Asia and the United Kingdom’.
The strong growth and large economies of East Asia, especially China, are causing rapid changes in the business world. These changes are not only affecting regional economies in Asia but also significantly affect British businesses. The APPG helped meet the need for a real understanding among parliamentarians about East Asian business and how the United Kingdom relates to it.
The rapid economic rise of the East Asian economies is an opportunity for businesses on both sides. It has the potential to create more jobs and investment opportunities for British and East Asian business. In its Trade White Paper, the Government highlighted the fact that China was the world’s largest exporter and the third largest importer and it noted that China was “expected to continue on its rapid growth trajectory over the next five years”.
The speed of this growth has been accompanied by a rapid rise in foreign investment in China and also a rising level of Chinese investments in the United Kingdom.
In July 2015, the APPG was discontinued and the following statement issued by Lord Wei and Lord Risby and the Officers:
“For the past few years we have had the privilege of helping Parliamentarians and stakeholders in Westminster understand and meet business and other leaders from East Asia. This has provided an invaluable insight into the rising stars and entrepreneurs powering the rise of Asia who will be shaping the global economic landscape, whose work and experiences have in turn helped inform better understanding and policy to promote better trade between the UK and Asian markets.
“In light of the success of the group in shaping and increasing our understanding of the business leaders of Asia, and in view of changes to the rules on the chairing of APPGs, and increasing and changing demands on the officers time (such as Lord Wei’s appointment onto the internal market group of the Lords EU Select Committee), a decision has been made to discontinue activities until further notice.
“The officers would like to thank all the sponsors of the group past and present for their support.”