International Economic, Trade and Industrial Cooperation: Multiple Signing of Memorandums of Understanding Usher in a New Chapter of Development

Recently, several important cooperation memorandums of understanding have been signed in the international arena. Under the witness of the heads of state of China and Italy, Ren Hongbin, president of the China Council for the Promotion of International Trade (CCPIT), and Matteo Zoppas, president of the Italian Institute for Foreign Trade (ICE), signed the "Memorandum of Understanding between the China Council for the Promotion of International Trade and the Italian Institute for Foreign Trade". The two sides will promote exchanges and cooperation between the business communities of the two countries and boost bilateral economic and trade development.

Meanwhile, according to the news from the China Shipowners' Association, YANG Chang Ho, executive vice - president of the Korea Shipowners' Association, led a delegation to visit China. They discussed cooperation in the maritime transportation sector with Zhang Aiguo, secretary - general of the China Shipowners' Association, and others. The two sides jointly signed a memorandum of understanding on cooperation in the maritime transportation field. Both sides will be committed to improving the efficiency of maritime transportation, ensuring the safety of maritime navigation, and promoting the sustainable development of the shipping industry.

On November 4 local time, the U.S. Department of Energy announced that the United States and South Korea signed the "Memorandum of Understanding on Principles of Nuclear Export and Cooperation" on November 1 to promote civilian nuclear energy cooperation. The two countries reaffirmed their common commitment and strengthened the management of export controls on civilian nuclear technology. The memorandum will undergo a final review.
China and Indonesia recently signed a Memorandum of Understanding (MoU) on conformity assessment cooperation. This MoU is the first conformity assessment cooperation document signed by China’s State Administration for Market Regulation with a regulatory body from an ASEAN country since its inception, and it represents the first bilateral conformity assessment cooperation mechanism established after the substantive conclusion of negotiations on the China-ASEAN Free Trade Area 3.0. The signing of this MoU provides an effective channel and platform for enhancing bilateral trade and technical cooperation in imports and exports between China and Indonesia.

In addition, during the 7th China International Import Expo, China FAW has been active. It signed relevant cooperation memorandums or memorandums of understanding with Volkswagen Group, AUDI AG, and Toyota Motor (China). Among them, China FAW and Volkswagen Group signed a memorandum of cooperation on the import of complete vehicles and parts. In 2025, FAW - Volkswagen will import some parts from Volkswagen Group and Audi complete vehicles. China FAW and AUDI AG signed a memorandum of understanding on the import of CKD parts in 2025. By then, Audi FAW will purchase imported parts from AUDI AG for the production and sales of complete vehicles. China FAW and Toyota Motor (China) signed a memorandum of cooperation on the import of parts. In 2025, FAW - Toyota will import parts for complete vehicle production from Toyota Motor (China). These measures have injected new vitality into international economic, trade and industrial cooperation.