Arab Today, arab today china\s wen eyes german business at trade fair
Last Updated : GMT 10:54:12
Arab Today, arab today
Arab Today, arab today

Visit highlights importance of Chinese-Europe trade

China\'s Wen eyes German business at trade fair

Arab Today, arab today

Arab Today, arab today China\'s Wen eyes German business at trade fair

German Chancellor Angela Merkel and China's Premier Wen Jiabao
Hanover - AFP

German Chancellor Angela Merkel and China\'s Premier Wen Jiabao Chinese Prime Minister Wen Jiabao on Monday visited the world\'s biggest industrial fair, hosted by European powerhouse Germany where firms increasingly see China as a competitor rather than a customer.
A day after jointly opening the week-long gathering of 5,000 manufacturing and technology companies from 69 countries where China is this year\'s guest of honour, Wen and German Chancellor Angela Merkel toured a number of the gigantic exhibition halls.
\"We will make every effort to intensify cooperation with German companies in this age of green technology,\" Wen told reporters as he was shown the stand of Phoenix Connect, a leading supplier of industrial connection and automation technology.
\'Green intelligence\' is the motto of this year\'s fair with the focus on environmentally sustainable technologies and innovations.
With 500 firms present, China accounts for 10 percent of exhibitors at this year\'s show, making it the largest single showcase of China\'s industrial technology ever outside the People\'s Republic.
Given China\'s rapid industrialisation in recent years, some of the biggest names in German industry -- companies such as Siemens, BASF, automakers Volkswagen, BMW and Daimler, as well as small- and medium-sized family-owned enterprises -- have long made it a priority to have a presence there.
\"China is now our second most important market,\" said Phoenix Contact chief Frank Stuehrenberg.
Out of the company\'s workforce of more than 12,000, some 1,500 are employed in China.
Bilateral trade between Germany and China stood at 144 billion euros ($189 billion) last year and \"we\'re working on making this even more,\" Merkel said at the opening ceremony late Sunday.
While the eurozone, which takes some 40 percent of German exports, is tightening its belt as it grapples with its sovereign debt crisis and attempts to fight off recession, emerging markets are increasingly important for German exporters.
And even though the Chinese economy has slowed to a degree, it remains one of the key engines of German export growth.
However, China, with its lower production costs, is becoming not just a market for German companies, but also a rival.
\"Often, China is viewed merely from the point of view of a market for selling products but it is increasing in importance as a competitor, too,\" said the head of the VDMA machine tool makers\' federation, Hannes Hesse.
\"China is by far the biggest producer of machine goods today ... it is the fourth biggest exporter and the trend is upwards,\" Hesse said.
For Wen, Germany is the second stage on a mini-European tour that kicked off in Iceland on Friday and will also take him to Sweden and to Poland.
After their joint tour on Monday morning, Wen and Merkel travelled to the headquarters of auto giant Volkswagen in nearby Wolfsburg where the carmaker inked contracts for a new plant in Xinjiang, northwest China.
The site, to be built with VW\'s local Chinese partner SAIC, will represent a total investment of 170 million euros. It is scheduled to begin production in 2015 and will assemble up to 50,000 vehicles there each year.
On the occasion of Wen\'s visit, VW also announced it would extend its long-running partnership with Chinese automaker FAW for a further 25 years.
The partnership dates back to 1991 and the two companies have a joint venture with production plans in Changchun, Dalian and Chengdu.
China is VW\'s biggest market, ahead of Germany, and the manufacturer plans to invest 14 billion euros there between 2012 and 2016.
Outside the congress centre in Hanover on late Sunday, around 200 protestors staged a small demonstration, waving Tibetan flags and shouting slogans about China\'s human rights record.
No opportunity was made available for reporters to ask Wen any questions during his visit.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s wen eyes german business at trade fair Arab Today, arab today china\s wen eyes german business at trade fair

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s wen eyes german business at trade fair Arab Today, arab today china\s wen eyes german business at trade fair

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday