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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China eyes deeper German economic ties: report AFP - Saturday, January 8 Send IM Story Print China eyes deeper German economic ties: report Slideshow: Full Photo Coverage: Business & Economy BERLIN (AFP) - – China and Germany, the world's top two exporters, should deepen their economic cooperation, a top Beijing official has said, ahead of a meeting on Friday with Chancellor Angela Merkel. Vice Premier Li Keqiang, widely tipped to be China's next premier, made the remarks at a closed dinner on Thursday for businesspeople in Berlin, according to official Chinese news agency Xinhua. According to Xinhua, Li said the two economic powerhouses should expand ties both in traditional areas such as machinery and cars but also explore new cooperation in low-carbon technologies and energy efficient industry. He noted that bilateral trade between the two is thought to have topped $140 billion last year, around 30 times more than in 1990. For his part, German Economy Minister Rainer Bruederle, who met Li late on Thursday, pressed Beijing on the issue of market access in China for German firms, technology transfer and raw material supplies. "Technology transfer offers both sides great opportunities when it takes place willingly and under fair terms," Bruederle said in a ministry statement released after the meeting. "I am convinced that everyone will benefit if China ensures open, free and orderly access to its raw materials," he said. He noted that "given the scope for improvement on market access (in China), it is encouraging that Li announced a greater opening up of the service sector." Li replied in his dinner speech that China would continue improving its investment environment, providing a "fair, stable, orderly, transparent and predictable market environment for all foreign companies in China," Xinhua said. The Chinese official was due to meet Merkel on Friday but Berlin said no press conference was planned. Later Friday, he was set to hold talks with German Foreign Minister Guido Westerwelle. According to a German government source, car giants Daimler and Volkswagen will ink multi-billion-dollar contracts with Chinese partners following the Li's meeting with Westerwelle. "The contracts with Daimler and VW will be more than five billion dollars," the source told AFP on Thursday. Following his trip to Berlin, Li was due in London. He has already visited Madrid where he said Beijing was willing to buy around six billion euros worth of Spanish debt, daily El Pais quoted government sources as saying. After eurozone members Greece and Ireland were forced to seek bailouts worth tens of billions of euros last year, Spain, together with Portugal, have been seen as next in line in the 17-country currency union to need help. Recommend Send IM Story Print Related Articles India telco permits process likely flawed-minister Reuters - 24 minutes ago US-BUSINESS Summary Reuters - 29 minutes ago Bernanke testifies to Senate Budget panel Reuters - 29 minutes ago Highlights: Bernanke testifies to Senate Budget panel Reuters - 35 minutes ago Jobs growth stumbles even as jobless rate falls Reuters - 36 minutes ago News Search Top Stories Renault suspects Chinese role in spy case Sombre Christmas for Egypt Copts after blast US unemployment tumbles to 9.4% Obama names Sperling to top economic job Ivory Coast's Gbagbo expels UK, Canada envoys More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Falling blackbirds baffle Arkansas officials Hasta la Vista: Arnie quits as California governor Goldman deal 'values Facebook at $50 billion' Spain lotto winner nearly loses millions by tossing tickets Brazil's 2010 trade surplus lowest in 8 years: official More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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