City to seal US$400m Nor­way ship deal

Shanghai Daily - - BUSINESS - Yao Minji SHIPBUILDING

CHINA and Nor­way will sign a US$400 mil­lion shipbuilding con­tract in Shang­hai next week — the largest trade deal so far be­tween the two coun­tries — when the Scan­dana­vian coun­try’s King Har­ald V and Queen Sonja ar­rive by bul­let train as part of their of­fi­cial China visit.

Of­fi­cials yes­ter­day de­clined to give de­tails of the deal ahead of the sign­ing.

The cou­ple ar­rived yes­ter­day on their fourth visit to China and are ex­pected to sign about 35 busi­ness agree­ments, in­clud­ing 10 in Shang­hai.

Their visit be­gan with a trip to Dun­huang in north­west­ern Gansu Prov­ince, site of the UN­ESCO-listed Dun­huang grot­toes.

The ac­com­pa­ny­ing del­e­ga­tion in­cludes about 340 busi­ness­peo­ple from var­i­ous sec­tors, the largest ever to visit China.

The royal cou­ple ar­rive in Shang­hai on Wed­nes­day. In their two days here they will host and at­tend a se­ries of busi­ness events fo­cus­ing on ma­rine tech­nol­ogy and sus­tain­abil­ity.

The king will also meet e-com­merce gi­ant Alibaba’s Jack Ma, China’s rich­est man, known for his sup­port of charity ini­tia­tives in­volv­ing the ma­rine en­vi­ron­ment.

Other deals in­clude sec­tors such as en­ergy, the en­vi­ron­ment, creative in­dus­try, dig­i­tal­iza­tion and fi­nan­cial ser­vices.

The two coun­tries are ex­pected to fi­nal­ize a free trade agree­ment next year.

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