Economy

China, Spain to sign deals worth $7.5b

(Xinhua)
Updated: 2011-01-05 17:32

MADRID - China and Spain will ink governmental agreements and commercial contracts worth $7.5 billion, visiting Chinese Vice-Premier Li Keqiang said Wednesday at a breakfast meeting of Chinese and Spanish businesspeople.

Li said China-Spain ties have stood the test of time since the two countries forged diplomatic relations decades ago.

Facing various current risks and challenges, China and Spain should maintain full confidence, closely work together and take joint actions to realize new development, he said.

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Li said that during his visit, the series of governmental agreements and commercial contracts covers 16 programs.

Moreover, he said many typical Spanish products are very popular among the Chinese people, adding that China, with its traditional Spring Festival coming up, will import tens of millions of dollars' worth of olive oil, wine and ham from Spain.

The agreements and contracts, which are expected to be signed later Wednesday, include China's purchase of meat products worth $13.5 million , olive oil worth $9 million, wine worth $6 million and ham worth $260,000?from Spain.

Li arrived in Madrid Tuesday afternoon for a three-day visit. On Wednesday, he will also meet Spanish Prime Minister Jose Luis Rodriguez Zapatero, King Juan Carlos and Foreign Minister Trinidad Jimenez.

Spain is the first leg of Li's three-nation tour, which will also take him to Germany and Britain.