Germany hails trade deals with China

German Ministry of Economy and Technology toady hailed China's 14 billion USD procurement deal from Germany and expected more Chinese orders and investment.

Karl-Theodor zu Guttenberg, German Federal Minister of Economics and Technology, described the deal --- 30-plus contracts for delivery by German enterprises to their Chinese customers --- as excellent news for the German export economy.

According to Chinese Commerce Minister Chen Deming who is leading the delegation in Europe, the deals focus on engineering equipment, electronics and auto vehicles like Mercedes and BMW, Chen told a press conference.

German are expecting more contracts from the match-making and negotiations at a business forum for more than 450 German and Chinese business representatives in Berlin.

Germany is the first stop of the European journey of the Chinese purchasing delegation. This is evidence for the close and trusting economic relations between Germany and China, said Guttenberg.

He also told Chen that Germany expected more business opportunities in the Chinese market and invited Chinese companies and the China Investment Corporation to increasingly invest in Germany.

The Chinese business delegation will also go to Switzerland, Spain and Britain. Chinese Premier Wen Jiabao promised during his visit to Europe at the end of January to send a mission to buy European products and services to increase imports from Europe.

Source: People's Daily Online