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| China, Italy Ink MOU to Boost Business Cooperation |
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The MOU was signed between the China Council for the Promotion of International Trade (CCPIT) and Italian Trade Commission (ITC). According to the MOU, the two sides will bolster the development of middle- and small-sized enterprises, organize Chinese and Italian experts to train young managers, and facilitate the visits of business delegations. Based on the MOU on intellectual property rights (IPR) signed between the CCPIT and ITC in 2004, the two sides will make detailed agreements for implementing IPR protection and cracking down on fake and pirated products. "The MOU not only highlights the cooperation we already have carried out but also marks a new start for us to make further contribution to both economic and trade growth," said Wan Jifei, CCPIT chairman. Echoing Wan's remarks, ITC chairman Vattani noted that Italy-China cooperation has produced positive results and called for joint efforts to promote all-round cooperation. Statistics show that China-Italy trade volume in 2005 topped US$18.6 billion, up 18.8 percent year on year. The figure in the first seven months of this year exceeded US$13.3 billion, up 24 percent year on year, which is expected to go over US$20 billion for the whole year. (Xinhua News Agency November 30, 2006)
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