An Expanding Partnership
January 17, 2007
European Commissioner for External Relations Benita Ferrero-Waldner and Chinese Vice Minister of Commerce Yi Xiaozhun signed agreements to finance three joint projects, including the creation of the Europe-China School of Law, the union said in a statement.
The two sides also agreed to launch the Europe-China Business Management Training Project.
The European Commission plans to spend 37.2 million euros on the three projects with China contributing about 25.5 million euros, the statement said.
"These agreements demonstrate the breadth and depth of the EU-China relationship," Ferrero-Waldner was quoted as saying after the signing.
"The projects we have agreed today will help boost good governance and the rule of law as well as social and economic reform, key priorities for the EU in its cooperation with China," she said.
An expanding partnership
Ferrero-Waldner held talks with Yi earlier Wednesday during a three-day visit focused on negotiating a new EU-China Partnership and Cooperation Agreement to update a trade and economic cooperation treaty signed in 1985.
"I am proud to be here to launch negotiations for a new agreement that will reflect the reality of our ever-expanding partnership and provide a base for us to further deepen our relationship," she said.
The commissioner was also scheduled to meet Wu Bangguo, the official number two in China's ruling Communist Party, and Foreign Minister Li Zhaoxing.
The Europe-China School of Law is to be run by a group of European and Chinese academic institutions to "create durable links between Chinese and European legal professionals," the union said.