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China and Finland Signed A New Agreement on Investment Protection to Promote Trade and Economic Development
Zhang Zhigang, Vice Minister of Commerce of PRC, held a friendly meeting with Ms. Paula Lehtomaki, Minister for Foreign Trade and Development of Finland, in Beijing on Nov. 15. signed a new agreement on investment protection on behalf of their respective government.
Zhang Zhigang said that starting from 1984, the original signed agreement on China-Finland investment protection played an active role within 20 years. But the new agreement must be the consequence of mutual efforts and it would further push the long-term development of China-Finland trade and economic relations.
It was learned that the government of China and Finland signed an agreement on investment protection in 1984 and held 5 round negotiations on revision of the agreement since 1999 and came to a consensus on all terms in Oct. 2003.
During the meeting, both sides highly appraised the development of China-Finland trade and economic relations made in recent years and further exchanged viewpoints on issues of EU's recognition of China's full market economy status, China's implementation of WTO commitment, 3C certificates, protection of intellectual property right and a new round negotiation of WTO etc.
When referring to the issue of China's full market economy status, Zhang Zhigang said that as one of a member of EU, Finland stood for Free Trade, hoping that Finland government could go on fulfilling more practical activities to promote EU to recognize China's full market economy status in an early date and to further push the development of "complete strategic partner" between China and EU with mutual efforts.
Zhang Zhigang pointed out that China's government highly emphasized its regular principle and legislation on protection of intellectual property.
At present, Finland is one of China’s important partner in trade and economic cooperation in North Europe, China-Finland trade and economic relations developed well in recent years. According to statistics in China, bilateral trade in January through Sep. amounted to US$3.76 billion, and the year-on-year basis ranked No.2 among original 15 EU members, up to 59.6%. In 2003, bilateral trade between China and Finland were US$3.46 billion, increasing by 29.8% compared with the previous year. Statistics from Finland showed that China has been Finland's biggest trading partner in Asia since last year.
Meanwhile, Finland enterprises invested actively in China. According to statistics, by the end of Sep., Finland has invested 199 projects in China with commitment of US$638 million and actual investment of US$402 million.
(Information by Network Center of MOFCOM)
(News source: English Website of Ministery of Commerce)
