EU, China Sign Trade Agreements

During British Prime Minister Tony Blair's visit to Beijing, the European Union and China have signed trade agreements worth $2.4 billion (1.9 billion euros) including the $1.5 billion contract for delivering 10 Airbus airplanes A330 to China. The British Standard Chartered Bank is obtaining a 19,9 percent stake in the newly established Chinese Bohai Bank for $123 million. Blair had previously met with China's Prime Minister Wen Jiabao. On Monday, Blair took part in the EU-Chinese summit in Beijing. Great Britain is the largest European investor in China, as well as the fourth largest exporter to China -- after Germany, France and Italy. In his capacity as the current president of the EU Council, Blair will also be traveling to New Delhi to take part in the EU-Indian summit. Both sides are hoping to build up their "strategic partnership," which was agreed upon in 2004. The EU has similar strategic partnerships with China, USA and Russia.