A memorandum of understanding (MoU) signed today between Luxembourg Deputy Prime Minister and Minister of the Economy, Étienne Schneider, and Minister Zhang Mao, will aim to strengthen China-Luxembourg cooperation across various fields.
Zhang Mao is in charge of State Administration for Industry and Commerce (SAIC) which is the competent national supreme authority in China for monitoring and regulating the market, as well as to enforce laws in trade and industry.
The MoU intends to promote trade between China and Luxembourg in areas such as company registration, policy for SMEs, the protection of international property, law, as well as competition policy and consumer protection. This involves faciliating and rendering more efficient the reciprocal application of different laws in thos areas.
"We are going to establish regular contact with a department as important as the SAIC," commented Étienne Schneider during the protocol signing ceremony. "This authority coordinates affairs within industry and trade between provincial and local governments, and can even provide guidance to them. Like our economic mission last week in China and the many bilateral contacts that were established there, signing the MoU reaffirms the common will to deepen China-Luxembourg economic relations."
Photo by MECO (L-R): Zhang Mao; Étienne Schneider
