April 10 - Japanese carmaker Nissan announces plans to spend another $200 million at one of it's UK plants as Britain's Prime Minister David Cameron attempts to boost trade links with Asia. Sarah Mills reports.
David Cameron tours Nissan's headquarters in Yokohama. Britain's Prime Minister is hoping to boost trade with Japan. Nissan already has close ties with the UK and the relationship has just got $200 million dollars stronger. Just hours before the tour took place the car giant announced plans to build a new hatchback at it's plant in England creating more than 1000 jobs. (SOUNDBITE) (English) PRIME MINISTER DAVID CAMERON, SAYING: "Japan is the 3rd largest economy in the world, it's a huge customer for Britain's goods, it's also a massive investor back into Britain and the news today that Nissan is going to be making a new Hatchback in Sunderland is going to create 1000's of jobs in our country, so I am here to encourage investment in Britain but also sell things to Japan." The new car will create 225 jobs at its Sunderland factory in northern England, and 900 more at the carmaker's British suppliers when it goes into production on 2014. Nissan's vice-president for manufacturing in the UK, Kevin Fitzpatrick is delighted. (SOUNDBITE) (English) NISSAN VICE-PRESIDENT, KEVIN FITZPATRICK, SAYING: "It's massive really this announcement tips us over into three shift running on our line two which means both production lines will be running 24 hours a day from 2014." Last month Nissan announced plans to spend $200 million in the UK turning its Invitation concept model in a new compact car. With the hatchback as well, 3,000 jobs will be created over the next two years The car industry is a bright spot in Britain's otherwise stagnating economy. Toyota and Jaguar Land Rover have also announced new investments. But Cameron knows he needs to stimulate other industries too. Britain trades largely with Europe and needs to increase its Asian partnerships. (SOUNDBITE) (English) PRIME MINISTER DAVID CAMERON, SAYING: "I think it's part of the job of the Prime Minister to get out there and bang the drum for British business, to load up aeroplanes full of business leaders take them to markets like Japan, Indonesia and Malaysia because we need to make more in Britain, sell more from Britain, export more that's one of the ways we're going to re-balance our economy and make sure that we get our economy moving." Manufacturing is key to Cameron's growth plan. He wants to lessen reliance on financial services and limit exposure to the crisis-hit euro zone. He and his Japanese counter-part also discussed defence manufacturing, nuclear decommissioning and free trade. Sarah Mills, Reuters