US and Chinese companies have signed 27 deals worth $US4bn in anticipation of a meeting between China’s president, Hu Jintao, and George Bush in Washington, according to Reuters.
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The meeting is expected to cover corporate concerns about barriers to US imports to China, piracy and currency policies.
Amongst the deals cited by Reuters are sales worth $306m by GM, $110m by Ford and $80m with DaimlerChrysler.
The biggest of the 27 deals was for $1 billion with electronics company Flextronics.
Ford said its export deal includes a programme to export the Ford Escape and the Lincoln Navigator. Ford’s commitment to export was marked in a ceremony in Los Angeles attended by a Chinese delegation led by Wu Yi, China’s vice premier and minister of health, and included a number of senior officials from China’s ministry of commerce.
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By GlobalDataAdditionally, Ford used the occasion to further its ongoing commitment to supply parts, components and other vehicle products to its key partners – Changan Ford Mazda Automobile (CFMA) and commercial truck maker Jiangling Motor (JMC), in which Ford holds 30% shares. Within the scope of this agreement and in addition to the Escapes and Navigators, Ford has committed to exporting approximately $120m in parts, components and vehicles to its operations in China.
