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China, Italy sign deals worth $10 bn
October 15, 2014, 5:02 am

Chinese Premier Li Keqiang and Italian Prime Minister Matteo Renzi meet with members of China-Italy entrepreneur committee and entrepreneur representatives in Rome,  Italy, Oct. 14, 2014 [Xinhua]

Chinese Premier Li Keqiang and Italian Prime Minister Matteo Renzi meet with members of China-Italy entrepreneur committee and entrepreneur representatives in Rome, Italy, Oct. 14, 2014 [Xinhua]

Chinese and Italian companies signed deals worth 8 billion euros (more than $10 billion) in Rome on Tuesday, a highlight of Chinese Premier Li Keqiang’s visit to Italy.

The deals signed after Li met his Italian counterpart, Matteo Renzi, covered investment, engineering and technology and financial cooperation.

Renzi described the deals as “antipasto” to more cooperation with Beijing in the future.

Italy’s defence firm Finmeccanica said it will supply China with 50 helicopters for a 400 million euro deal.

A Reuters report quoted Italian state lender CDP saying it had signed an accord with China Development Bank (CDB) for cooperation projects worth up to 3 billion euros over the first five years of the deal.

The Chinese Premier also said Beijing would like to import more Italian products.

“Since Italy and China are both kingdoms of excellent food, we can strengthen exchanges: Chinese dumplings and noodles for Italian spaghetti and pizza,” Li said.

Italy faces a third consecutive year of economic contraction in 2014. Italian Premier Renzi is struggling to break down bureaucratic obstacles to investment in the face of a recession-hit economy.

Italy is the last stop of Li’s three-nation Europe tour, which has taken him to Germany and Russia.

 

 TBP and Agencies

One Response to China, Italy sign deals worth $10 bn

  1. Igor Hurcik Reply

    October 15, 2014 at 1:02 pm

    finaly somebody in EU is coming to his senses. not surprisinlgy its Italy

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