China observed with great satisfaction that a rapidly growing trade and economic cooperation has become an important pillar of the relations between China and Sweden, Chinese Vice Premier Wu Yi said in Stockholm on Monday.

In a speech at the welcoming dinner hosted by the Swedish business community, Wu Yi thanked the Swedish enterprises for their tireless efforts to promote China-Sweden relations, particularly the economic relations and trade.

Wu arrived in Stockholm on Sept. 25 for a four-day visit to Sweden, including a stay at Gothenberg, the second largest city of the country on Tuesday. She met on Monday with His Majesty the King Carl Gustaf, Prime Minister Persson, and conducted fruitful talks with Deputy Prime Minister Engqvist and Minister for Industry and Trade.

"We shared broad consensus on developing friendly and mutually beneficial relations between China and Sweden. We both agreed that given the current sound momentum of China-Sweden relations and the strong economic complementarities between us, our bilateral relations enjoy a solid basis, huge potential and broad prospect for further development," she said.

She noted that "in the past 26 years of reform and opening-up, China has scored remarkable achievements in economic development.

A more prosperous and open China will not only benefit the Chinese people but also offer abundant investment opportunities and a big market for those Swedish enterprises with vision and enterprising spirit."

Sweden is the first western country to have diplomatic relations with China and over the years has always been China's largest trading partner in the Nordic region. In 2003 two-way trade neared 4.2 billion US dollars, a new high in history. It is expected that the all-year trade volume would surpass 5 billion dollars for the first time in history, consolidating China's standing as Sweden's No. 1 trading partner in Asia.

"The two countries should continue to give play to their respective advantages, promote the two-way investment and expand trade and economic cooperation," Wu said.

"China will encourage more Chinese enterprises to come to Sweden and stay open to Swedish investment. Let us look to the future, seize the opportunities and make joint efforts to open up a new dimension of China-Sweden trade and economic cooperation," she concluded.

Source: Xinhua