China, France agree to elevate economic, trade cooperation: MOFCOM

China and France have inked a number of cooperation agreements during the recent state visit by China's top leader to Paris. Moving ahead, the Chinese Ministry of Commerce (MOFCOM) will work with its French counterpart to elevate bilateral economic and trade cooperation to a new stage, a spokesperson from the ministry said on Thursday.

During the visit, MOFCOM and the French Ministry of Foreign Affairs inked a Memorandum of Understanding (MoU) on promoting cooperation among small and medium-sized enterprises (SMEs), aiming to enhance the business environment for SME cooperation between the two countries, according to He Yadong, the spokesperson for MOFCOM.

Additionally, the sixth meeting of the China-France Entrepreneur Committee convened successfully in Paris, with over 200 entrepreneurs from both nations attending. Discussions centered on topics like industrial innovation for mutual trust and win-win cooperation, green economy and low-carbon transformation, and fostering new productivity for sustainable development.

Following the meeting, companies from both countries signed 15 cooperation agreements in such areas as finance, nuclear energy development, aviation, manufacturing, and new renewable energies, according to the MOFCOM spokesperson.

"Moving ahead, the Ministry of Commerce will work with relevant French departments to conscientiously implement the important consensus reached by the two heads of state, and elevate bilateral economic and trade cooperation to a new stage," He Yadong told a press briefing in Beijing on Thursday, noting rapid development in bilateral economic cooperation during the recent years.

In the 60 years since the two countries formally established diplomatic ties, bilateral trade has skyrocketed nearly 800-fold, hitting $78.9 billion in 2023.

China has become France's primary trading partner outside the EU, while France retains its crucial role as an important trading partner for China within the EU. Total two-way investment has exceeded $26 billion, placing China and France at the forefront of cooperation among EU nations, with over 2,000 French companies now operating in China.

In the context of intensified global economic uncertainty, the importance of strengthening China-France relations in trade, strategic cooperation, and cultural exchange is ever more pronounced, guided by principles of independence, mutual understanding, and mutual gain.