Promoting greater trade and investment
The Ministry of Economy, Industry and Innovation, through Igape, has signed a new collaboration agreement with the Chamber of Commerce for the import and export of machinery and electronic products from China.
![[Img # 53373]](https://empresaexterior.com/upload/images/07_2023/9693_china-asia.jpg)
This memorandum, signed during a trip to China by Igape representatives, reinforces the mutual interest of Galicia and China in taking new steps to consolidate bilateral relations between both economies. In fact, in 2022 China was the first destination in Asia for Galician exports, and one of the most important outside Europe, experiencing an increase of 6,7% compared to the previous year to reach 223 million euros.
The agreement continues the one signed in 2018, which made Galicia the first Autonomous community to have a memorandum of these characteristics with one of the most important chambers of commerce in the country that brings together more than 10.000 companies.
The memorandum includes a series of renewed commitments to promote greater trade and investment between the machinery and electronics industry of the two countries.
Thus, both parties undertake to organize trade missions, enhance bilateral trade cooperation through the exchange of commercial information and mutual advisory services, or to prepare a list of recommended suppliers and a calendar with the main international fairs held in two countries.
Signed during a trip to China by Igape representatives, the agreement continues what was promoted in 2018, which made Galicia the first Autonomous Community to have a memorandum of these characteristics with one of the most important chambers of commerce. of the country that brings together more than 10.000 companies
Investments in Galicia
The agreement is configured as an opportunity both for Galician companies to open their markets and to receive new investments in Galicia. In this sense, the trip made by the representatives of Igape has also allowed progress in the large investment projects planned in Galicia by Chinese companies, such as the case of the tire factory. Century which is scheduled to be launched in Las Pontes.
Likewise, the trip facilitated the monitoring of other possible initiatives, such as that of the company BYD, which analyzes a strong investment in its first electric vehicle factory in Europe, and the Tsingshan company, which is seeking to launch a battery factory. to drive electric vehicles.
The trip is the result of the relations promoted in recent years by the Ministry of Economy, Industry and Innovation and has also included various meetings with other Chinese automotive companies with which it has been maintaining contact, as well as with Bright Foods, array of Albo preserves.