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TRADE WARS
China, Poland mark cooperation with copper, chemical deals

by Staff Writers
Warsaw (AFP) Nov 3, 2010
Firms in Poland and China signed deals in the copper and chemicals sectors on Wednesday as part of a drive to improve economic cooperation between the post-Communist European country and the emerging Asian giant.

Chinese companies are interested in infrastructural projects in Poland, including road construction, high-speed railways and sea ports, as well as agriculture, according to Sun Yuxi, China's ambassador to Poland.

Poland's KGHM copper giant signed a deal with the China Mine Metal Corporation, and Poland's Ciech chemical group signed an agreement with the Chinese Sinochem Plastics. The content of the deals was not made public.

Polish copper giant KGHM, which exports a tenth of its production to China, opened a branch office in Shanghai last week.

The China Overseas Engineering Group (COVEC) has already won a contract in Poland to build 49.2 kilometres (30.5 miles) of the A2 highway linking Berlin and Warsaw.

COVEC was accused by European competitors of dumping, for undercutting the bids of European companies for the contract.

China is Poland's leading Asian economic partner with trade rising from 2.79 billion euros (3.91 billion dollars) in 2003 to 11.03 billion euros (15.48 billion dollars) in 2009.

The two countries signed the declaration on economic co-operation in Warsaw where a senior Chinese official met Polish leaders.

"It is an important signal, especially in relations with China, when an important personality in the hierarchy of power pays a visit," Poland's Economy Minister Waldemar Pawlak told reporters after signing the agrement.

Senior Chinese communist party official Jia Qinglin, who began a four-day visit to Poland Tuesday heading a trade delegation of 100 Chinese business leaders, met with Poland's Prime Minister Donald Tusk and President Bronislaw Komorowski Wednesday.



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TRADE WARS
Brazil to fight US-China 'currency war' at G20 summit: Lula
Brasilia (AFP) Nov 3, 2010
Brazil will be looking to fight a "currency war" it sees underway between the United States and China that is threatening its export sector, President Luiz Inacio Lula da Silva said Wednesday. "I am going to the G20 to fight" this, he said in a joint media conference with his elected successor, Dilma Rousseff, who takes over as Brazilian president in January. Lula said he and Rousseff wo ... read more







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