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| Vice Minister Liao Xiaoqi Addressed Invest in Italy Forum |
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Liao Xiaoqi, Vice Minister of Commerce, addressed Invest in Italy Forum on September 9 in Xiamen.
I'm pleased to attend the symposium. China and Italy held China-Italian two-way investment symposium in May last year when Premier Wen Jiabao visited Italy, leaders of the two counties placed hope on cooperation in investment. A year later, we are happy to see that China-Italian cooperation in investment has obtained great achievements. Investment Promotion Agency of Ministry of Commerce of PRC, Development Committee of Italy and Committee of Foreign Trade of Italy signed the memorandum of understanding on two-way investment and cooperation, which instilled new life into the economic and trade relations of the two countries.
Stepping up implementation of "going global" strategy is a great measure for China to overall improve opening up to the outside world. As improvement of international competition of Chinese enterprises, there will be more and more Chinese enterprise to invest overseas and expand the international market. In order to promote enterprises to carry out investment cooperation with countries and regions all over the world in an active attitude, Chinese government follows the principal of taking market as leading role, enterprises as main body and government as service provider to step up construction of China’s management and service system of foreign economic cooperation.
Italy is an important trading partner of China, and Chinese government attaches great importance to developing China-Italian bilateral economic and trade relations. In recent years, under joint efforts of the two sides, China-Italian bilateral trade expands constantly and trade value in 2004 reached US$15.7 billion, up by 33.6%. In January through July of 2005, bilateral trade value was US$10.8 billion, up by 24.1%. China-Italian two-way investment got great progress, by the end of June, 2005, Italy invested 2720 projects in China with real investment of US$2.95 billion; and China invested US$34.36 million in Italy. As a developing country, China's investment in Italy is not big in scale, but under great promotion of Chinese government, China's overseas investment increased fast. Chinese government is willing to join hands with Italian government to take effective measures and improve bilateral trade, two-way investment in scale.
There is a great potential for Chinese enterprises to invest in Italy. In recent years, some electrical appliance enterprises invested in Italy. We hope Italy could facilitate their investment efforts. And we hope Chinese enterprises can learn more about national conditions of Italy, get familiar with and abide by the Italian laws and regulations, and find cooperation projects with complementary advantages.
The Forum is meaningful for promoting investment and cooperation of the two countries. The forum provides Chinese enterprises with more opportunities to learn more about Italy and strengthen investment and cooperation. I hope every distinguished guest and representative can take use of the platform, strengthen exchange and mutual trust, tap China-Italian cooperation potential and get win-win and common development. Congratulations to the forum and I wish the forum a complete success in the name of the Ministry of Commerce.
(Source: Network Center of MOFCOM)
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