China, Poland to double trade

POLAND: Chinese Premier Wen Jiabao pledged at landmark talks in Warsaw on Wednesday to double bilateral trade turnover with Poland in the next five years.

During a historic two-day visit, the first in 25 years by a Chinese premier, Jiabao praised Poland for its economic resilience during the global economic crisis and the eurozone debt debacle battering several European Union partners.

Jiabao said bilateral efforts were focused on doubling trade turnover within five years. In 2011, this was valued at 14.55 billion euros ($19.18 billion), up from 12.7 billion euros ($16.7 billion) in 2010, according to Polish figures.

“Poland has maintained stability and development and has secured 20th spot in ranking of global economies,” Jiabao told reporters alongside his Polish counterpart Donald Tusk.

Quoting a Chinese newspaper, Polish media said Jiabao would announce a billion-euro ($1.3 billion) Chinese investment fund for Central Europe at a major trade summit Thursday.

Warsaw analysts insist the Chinese are eager to capitalise the region's stability, growth and competitive prices to gain “perfect access to the West European market” -- still Beijing's top export destination.

In recent years, it has topped the 27-nation EU's growth charts and was the only member to have posted continued growth.

The Chinese prime minister later met with Polish President Bronislaw Komorowski, who visited China in late 2011. AFP