China, Italy Hope to Expand Trade, Economic Cooperation

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Last updated at: (Beijing Time) Friday, June 21, 2002

China, Italy Hope to Expand Trade, Economic Cooperation

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Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng said here Friday that Chinese and Italian enterprises should seek opportunities to expand bilateral trade and economic cooperation.

Shi made the remarks during a meeting with Antonio Marzano, Italian Minister of Production Activities, who is in Beijing attending the Italy and China 2002 Forum.

Shi said there were new opportunities for the two countries to expand trade and economic cooperation. China's continuous economicgrowth, its entry into the World Trade Organization, its implementation of the 10th Five-Year (2001-2005) Plan and the 2008Olympic Games in Beijing all provided opportunities for cooperation, he said.

Shi said although China and Italy had seen smooth development of economic and trade relations, the total trade volume was still low considering the overall volume of each country. Italian investment in China also remained at a low proportion in the overall overseas investment in China.

"There is great potential in economic cooperation and trade between our two countries," Shi said. "Enterprises of our two countries should expand cooperation in different areas."

Marzano said his delegation, including officials and entrepreneurs from the industrial, banking and insurance sectors, paid great attention to expanding cooperation with China, a fast growing market.

Marzano said Italy had advantages in areas of science and technology, telecommunications, transportation and construction ofwater supply facilities, and hoped to increase investment in China.

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