Sino-German benefits

Updated: 2012-08-31 08:12

(China Daily)

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China and Germany, each the biggesteconomy in their respective region, draw global attention every time high-ranking officials from both meet to forge new cooperative ties and discuss world economics and politics.

German Chancellor Angela Merkel's current visit to China, from its very beginning, has not failed to impress those who have been watching it with interest.

During her first day in Beijing on Thursday, Merkel and Chinese Premier Wen Jiabao witnessed the signing of more than 10 bilateral cooperative documents concerning topics such as aviation, automobiles, communications, energy, the environment, health and maritime cooperation. Also included was a deal to procure 50 Airbus planes worth $3.5 billion.

Amid the gloom hanging over the international economy, the transactions will give the two countries' trade relations a substantial boost and almost certainly lead to broader benefits. The European and global economy is in dire need of good news such as this.

Thanks to the efforts of both countries, Sino-German cooperation in the fields of trade and economics has flourished, showing it can withstand the tests it has been subjected to by the international financial crisis and heavy eurozone sovereign debts, which are still causing concern. China trades more with Germany than any other country in the European Union. In 2011, the countries' trade hit $169.15 billion, about a third of the total value of trade between China and the EU.

Germany, an important industrialized country known for its machinery, cars and other high-tech products, and China, the world's biggest developing economy, have everything to gain from maintaining strong bilateral trade ties. Their cooperation also helps to bolster the eurozone and the world economy at large.

Just as Wen said during his meeting with Merkel, China and Germany, as important global economies and strategic partners, should work to instill more confidence in the international community.

To ensure the steady strengthening of a comprehensive strategic partnership between China and Germany, the two countries should work to deepen their mutual political trust and accommodate each other's concerns and main interests.

This year marks the 40th anniversary of the establishment of diplomatic relations between the two countries. Merkel's current visit is her sixth to China since she took office in 2005 and the second this year, demonstrating more than anything else that the two governments have established an effective and efficient means of communication.

We believe China and Germany have both the resolve and the means needed to pluck further fruit from their cooperation in the future.

(China Daily 08/31/2012 page8)