China & Italy agree to expand all-round cooperation

[Lankan Ranger]

China & Italy agree to expand all-round cooperation

China and Italy enjoy a good foundation for cooperation and China would like to expand that to other areas such as trade and investment, environment and culture, Chinese Premier Wen Jiabao said here Thursday.

During a meeting with Italian Prime Minister Silvio Berlusconi on the second day of his two-day visit, Wen applauded the fruitful bilateral cooperation the two countries have enjoyed since establishing diplomatic ties 40 years ago.

Wen said China expects to conduct high-level exchanges with Italy and at all levels, promote political mutual trust and expand cooperation.

The premier proposed that the two countries should make efforts to promote trade, enhance intellectual property rights protection, work hard to settle trade disputes, and oppose protectionism.

China and Italy could work to build for China a set of complete mechanisms of environmental risk assessment and emergency response and set up an environment technology promotion center, Wen said.

He said the two nations should advance their cooperation in technological innovations based on mutual benefit.

That, Wen said, would include bringing high-tech industries to the joint technology parks, building technology transfer centers in China, and exploring the possibility of establishing a industrial design center.

The premier also suggested the two sides coordinate for a better use of Italy's credit loans so as to bring more Italian investment China's way.

Cultural exchanges such as the Chinese Cultural Year in Italy should be encouraged to bridge mutual understanding. The two countries also could cooperate in filming TV series, programs, and movies, Wen said, adding that China supports Italy in making the 2015 World Expo in Milan a success.

Berlusconi said China has made important contributions to world economic recovery by maintaining steadfast and rapid economic growth. China had the best market for investment with great potential, he said.

Agreeing on Wen's proposals for cooperation, Berlusconi pledged that Italy would work closely with China to bring more benefits to the people of both countries.

After the meeting, the two leaders also attended the signing ceremony of agreements between the two governments on economy, science and technology, culture and justice.

They also met representatives of industrial communities of the two countries.

Wen arrived in Italy on Wednesday, the third leg of his four-nation tour, which has already taken him to Greece and Belgium. He held an unscheduled meeting with German Chancellor Angela Merkel in Germany on Tuesday and will also visit Turkey before returning to China.

China Military Online English Edition

 

[Brotherhood]

Beijing's big aid package helps Italy - People's Daily Online October 08, 2010

China's 4-trillion-yuan ($600 billion) stimulus package and fast economic growth will continue to help Italy crawl out of Europe's debt woes, Italy's chief trade commissioner in Beijing told China Daily.

The trade commissioner also said he is confident Premier Wen Jiabao's official visit to the southern European nation will push bilateral economic relations to a new high.

"Italy has benefited a lot since the financial crisis and is benefiting from China's stimulus package", as infrastructure projects included in the package have created huge opportunities for Italy's machinery manufacturers and boosted exports to China, said Antonino Laspina, chief trade commissioner and coordinator in China with the Italian Institute for Foreign Trade.

In 2009, Italian exports to China dropped by only 5.3 percent year-on-year, while Chinese exports to Italy were down about 24 percent.

During the past eight months, Italian exports to China grew 28 percent, and exports of machinery contributed about 60 percent of total Italian exports to China, said Laspina.

Italy has been hurt by the ongoing European debt crisis - with the unemployment rate hitting 8.4 percent in July, according to Italian news agency ANSA. And analysts do not expect the rate to go down in the near future.

While Italy is still in an economic recession, Laspina said he believes cooperation with China will play a "positive role" in Italy's economic recovery.

China's economy grew about 11 percent year-on-year to surpass 17.2 trillion yuan in the first six months, according to the National Bureau of Statistics.

Buoyed by strong economic growth, Italian exports to China will continue to surge, not only in machinery but in plastics, luxury, textiles and wine, Laspina said.

While the China-Italy trade volume in 2009 dipped 18 percent amid the crisis to about $31 billion, it bounced back in the first quarter, posting an increase of 34 percent, according to the Ministry of Commerce.

Compared to those from other nations, Italian companies suffered less because of the Chinese market, as many Italian goods target mid- and high-end consumers yet those groups in China were less affected by the financial crisis.

"(With) 300 million middle-class, the Chinese market is definitely going to be one of the most important markets for Italian designer clothes, automobiles and other luxury goods," Laspina said.

"The growth of China and the growing consumer strength here would help drag Italian economy out of recession."

More investment

Besides growing exports, ballooning Chinese investment in Italy is also giving an injection to Italy's economic recovery.

"There is more and more Chinese investment in Italy," he said.

According to Invitalia, the Italian official agency for promoting overseas investment and enterprise development, 38 Chinese firms had operations in Italy at the end of last year, mainly in the auto, logistics and machinery sectors.

"Italy's excellent design expertise, brands, innovation and technology are exactly what Chinese companies lack when they look to go from quantity to quality," he said.

"Italy's strategic position as an important sea gateway to Europe can help Chinese companies further tap the European market after they take hold in Italy."

By Gao Changxin and Ding Qingfen, China Daily