European Union and Chinese officials will formally sign a
cooperation agreement tomorrow on Galileo, the Civil Global
Navigation Satellite System developed by the EU.
The ceremony will take place during the EU-China Summit in
Beijing tomorrow, said a press release issued by the EU executive
European Commission (EC).
The EU had approved the agreement between China and the
15-nation bloc on Monday.
"This is a very important step ahead which shows the high level
of confidence created by Galileo throughout the world. The
partnership with China is good news and paves the way for other
future bilateral and regional agreements which are of mutual
benefit,'' said Loyola de Palacio, EC vice-president in charge of
transport and energy.
This agreement provides for cooperative activities on satellite
navigation in a wide range of sectors, notably science and
technology, industrial manufacturing, service and market
development.
It also opens the way for China to invest around 200 million
euros (about US$230 million) in the program through taking holding
in the Galileo Joint Undertaking, the body established to manage
the programme.
Galileo, scheduled to be operational by 2008, is designed to
encircle the globe with 30 satellites in medium Earth orbit,
comprising 27 operational satellites and three reserves, plus two
control centers on the ground.
In another development, President of the EC Romano Prodi said on
Monday that the EU and China should develop all-round cooperation
because it is in the interests of both sides.
In an interview at the EC headquarters with Chinese journalists,
Prodi said that the sixth summit meeting between the EU and Chinese
leaders tomorrow will give impetus to further development of
bilateral ties in general and cooperation in such key sectors as
politics, economy, education, science and technology as well as
cultural exchange in particular.
"It is a very important meeting because this is my first time to
meet with China's new leadership,'' he said.
Prodi said that China is a key player in world issues and this
was demonstrated in China's efforts made in the resolution of both
the nuclear issue of the Democratic People's Republic of Korea and
the Iraq issue.
The EU is also an important force and cooperation between the
two parties is beneficial to both parties, he added.
He also expressed satisfaction with the development of bilateral
economic relations, saying that bilateral trade, currently standing
at the level of 115 billion euros (US$132 billion), is developing
fast because China and the EU have complementary economies.
(China Daily October 29, 2003)