The Liverpool exhibition has been sited at the Shanghai World Expo and since then has been visited by more than 500,000 people.

Organisers Liverpool Vision have reported significant interest from a number of potential investors.

“Liverpool has taken great strides over the last 10 years, particularly with improvements to infrastructure, but we need to capitalise on developments and we must secure greater private investment to do so,” said Cllr Anderson.

“I’m confident the Liverpool embassy initiative will help us do this, and while DLIB is the lead partner, we welcome input from the whole business community, to move this project forward.”

Liverpool will be the first UK city to house an embassy in the capital. The council hopes the move will catapult Liverpool’s business, cultural and tourism offer, helping to drive economic growth and job creation.

Frank McKenna, chairman of DLIB, said: “Liverpool needs to get out there and express itself in the right way. It needs to capitalise on the cost benefits of being a provincial city.

“I am really pleased to see the council driving the embassy forward and excited by this opportunity. I think this is a further demonstration of Joe Anderson’s, and the new administration’s determination to engage effectively with the city’s private sector.

“The idea of a Liverpool presence in London is something that DLIB and our membership have been fully supportive of.”