Minister Chen Deming Signs China-EU Financial Agreement on Cooperation Projects

On behalf of the Chinese Government, Minister of Commerce Chen Deming, who was accompanying Premier Wen Jiabao on his visit to the EU Headquarter on January 30, 2009, signed the China-EU financial agreement on five cooperation projects. According to the agreement, European Commission is to provide a 48.8-million-Euro non-reimbursable assistance for the five projects concerning government regulation, energy, environment, higher education, etc.

China-EU cooperation projects are an important part of China-EU economic and trade relations. Over the past 20 years, China and the EU have cooperated on more than 70 projects within the development cooperation framework, involving a total sum of 700 million Euros, among which 52 projects involving 420 million Euros have already completed, and the rest 21 projects involving 290 million Euros are still operating. The fields of cooperation projects include agriculture, environmental protection, energy, education, healthcare, trade, justice, and government regulation.

China-EU cooperation projects have played a significant role in China in terms of promoting social and economic development, improving government regulation, and helping some areas to shake off poverty and backwardness. They have also consolidated the China-EU partnership by deepening the understanding and exchanges between both sides.