US, China firms to sign 30 deals worth billions
Top firms from the United States and China will sign on Monday more than 30 commercial deals worth billions of dollars ahead of senior level official talks on critical economic issues.
By Agencies |
WASHINGTON: Top firms from the United States and China will sign on Monday more than 30 commercial deals worth billions of dollars ahead of senior level official talks on critical economic issues, an official said.
The inking of the agreements will be witnessed by Chinese Vice-Premier Wang Qishan and Commerce Minister Chen Deming, who are leading a cabinet team for two days of talks with the US side led by Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.
"We are going to have over 30 commercial deals worth several billions of dollars to be announced today involving hi-tech, manufacturing and telecommunication companies," Myron Brilliant, US Chamber of Commerce vice president for East Asia, told AFP.
Among the US companies that would be forging the deals are General Motors, Cisco, Ford, IBM, Oracle and Motorola while the Chinese side will include dominant local mobile operator China Mobile, he said.
The US Chamber of Commerce, led by its president, Tom Donohue, will host the deals' signing ceremony, which is expected to give a psychological boost to the US-China "strategic economic dialogue" (SED) beginning Tuesday at the Naval Academy in Annapolis, east of Washington.
"This (deals' signing) is not a formal part of the SED process but it is consistent with that spirit," Brilliant said. "This doesn't displace the need however for there to be real progress on the macro issues that the two governments are talking about," he added.
With their economies in crisis, the top officials from the United States and China will grapple with wide ranging issues -- financial sector reforms, currency concerns, protectionist pressures, energy security as well as trade and product safety, and investment -- at the Annapolis meeting.
The inking of the agreements will be witnessed by Chinese Vice-Premier Wang Qishan and Commerce Minister Chen Deming, who are leading a cabinet team for two days of talks with the US side led by Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.
"We are going to have over 30 commercial deals worth several billions of dollars to be announced today involving hi-tech, manufacturing and telecommunication companies," Myron Brilliant, US Chamber of Commerce vice president for East Asia, told AFP.
Among the US companies that would be forging the deals are General Motors, Cisco, Ford, IBM, Oracle and Motorola while the Chinese side will include dominant local mobile operator China Mobile, he said.
The US Chamber of Commerce, led by its president, Tom Donohue, will host the deals' signing ceremony, which is expected to give a psychological boost to the US-China "strategic economic dialogue" (SED) beginning Tuesday at the Naval Academy in Annapolis, east of Washington.
"This (deals' signing) is not a formal part of the SED process but it is consistent with that spirit," Brilliant said. "This doesn't displace the need however for there to be real progress on the macro issues that the two governments are talking about," he added.
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With their economies in crisis, the top officials from the United States and China will grapple with wide ranging issues -- financial sector reforms, currency concerns, protectionist pressures, energy security as well as trade and product safety, and investment -- at the Annapolis meeting.
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