On the 06/04/18, Huawei stated that they will be investing an additional £3 billion on acquiring goods from Britain in the face of U.S conflict.
The assurance was made by chairwomen Sun Yafang, at a conference with Theresa May, in accordance with a trade mission to China. These are thought to have resulted in agreements valued at over £9 billion.
Throughout the past decade, Huawei have been strengthening their connections in the UK, which have especially come to use for the tech giant due to recent strains with the U.S. regarding security concerns.
The ‘procurement deals’ can be viewed as an umbrella term, encompassing global risk management, forex trading, as well as patent licensing- which Huawei funds to British technology companies.
Liam Fox, Britain’s International Trade Secretary stated: “I’m delighted to welcome their increased commitment to the UK,”. He also went on to explain that the series of deals with Huawei would go on to enhance Britain’s economy, especially important what with financial blows received after Brexit.
“With 90 percent of global growth forecast to come from outside the EU, my international economic department is working to ensure Britain continues to benefit from the vast opportunities available as we leave the EU.”
This latest deal develops on a 2012 agreement to invest £1.3 billion for four years in between 2013 and 2017. 1,500 workers throughout Britain have received employment as a result of the pledges.