Jointly established between four non-governmental organizations (NGOs) hailing from China and the EU, a plan aiming to promote economic exchanges and cooperation was recently launched.

 

According to the action plan, two to three Chinese and European cities will become partners in terms of trade and economic exchanges this year, said Deng Yubo, secretary-general of the Association for International Entrepreneurs in Germany, one of the four NGOs to launch the action plan.

 

The four NGOs will help competitive Chinese firms create subsidiaries, ramp up sales and exhibit their wares in European countries. They will also organize opportunities for European business people to purchase commodities, hold trade fairs and participate in exhibitions in China, Deng said.

 

Trade volume between China and the EU rose 25.3 percent year-on-year to reach US$272.3 billion last year, according to the Ministry of Commerce.

 

The consolidation of the trade partnerships between China and the EU has become apparent as the EU accounted for 15.5 percent of China's total foreign trade volume last year, remaining China's top trade partner, according to the ministry.

 

Mutually beneficial trade relations have been of great help in providing business opportunities for firms on both sides, insiders have said.

 

Some European countries are now drafting preferential policies to attract Chinese investors, Deng said.

 

The other three NGOs in the action plan are the Association for the Promotion of EU-China Relations, the China Economic and Cultural Development Association and the Europe China Trade Center.

 

(Xinhua News Agency February 6, 2007)