German Economics Minister Brigitte Zypries on Monday forecast big opportunities for German firms to expand trade with China, but urged Beijing to make good on a promise to open its markets and stop insisting that foreign firms create joint ventures. Zypries told leaders of the German Asia-Pacific Business Association that the Asia-Pacific region was important for German companies, and accounted for 16 percent of German trade. German investments in the region accounted for 15 percent of the total, up from around 6 percent in 2005, the minister said. She said Germany backed free trade deals in negotiations between the European Union and countries in the region, but warned that China - the largest player - had to change course. "China should put its words about free trade into action and open its markets, treat foreign companies equitably and give up its insistence that our companies must form joint ventures in China."

Source: dna August 07, 2017 18:00 UTC