Economy

China, Italy to strengthen economic co-op through action plan

(Xinhua)
Updated: 2010-10-08 10:36

ROME - Vising Chinese Premier Wen Jiabao held talks with Italian leaders in Rome and reached a consensus on further strengthening bilateral economic cooperation through a three-year action plan.

Chinese Premier Wen Jiabao (L) shakes hands with Italian Prime Minister Silvio Berlusconi at Palazzo Chigi in Rome Oct 7, 2010. [Photo / Reuters]

During his two-day official visit, Wen and Italian leaders agreed to further strengthen China-Italy overall strategic partnership in the coming three years.

They both reaffirmed to enhance cooperation in trade and investment, finance and banking, and among small and mid-sized enterprises of the two countries.

The two sides held that economic and trade cooperation is an important part of the China-Italy overall strategic partnership under the framework of the mechanism of the China-Italy economic and trade mixed commission.

They both emphasized cooperation in the sectors of high-tech, energy-saving environmental protection, designing creation and service trade.

Both sides reaffirmed to make joint efforts to promote the growth of bilateral trade and keep balanced trade.

They both also expressed willingness to expand cooperation in infrastructures and tourism and both sides should offer convenient conditions for the travel services of the two countries to carry out travel-related activities.

The two sides should also strengthen investments in each other's countries, which will be beneficial to trade balance between the two countries, and fight any kind of trade protectionism.

Italy is China's important foreign reserve investment market. So China will care about and assess the opportunities offered by the Italian banking market.

Both sides held that the two countries should strengthen coordination in the United Nations and G20 to jointly promote the improvement of the global economy and banking management.

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Cooperation among small and mid-sized enterprises is also an important component of China-Italy economic and trade relations. Both sides should develop industrial parks' cooperation by holding exhibitions and trade fairs and local governments should help strengthen cooperation among small and mid-sized enterprises.

Since 2005, the Chinese and Italian governments have signed two memorandums on promoting cooperation among small and mid-sized enterprises and a textile industrial cooperation agreement aimed at financing a series of activities in textile sector of the two countries.

Italian association of enterprises in foreign countries will financially support Italian small and mid-sized enterprises to make investment in China through Venture Capital Fund, Mandarin Capital Partners and other similar financial institutions.

Wen arrived in Italy on Oct 6, 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 Oct 5 and will also visit Turkey before returning to China.