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.
Additionally, 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.
