Wen starts tour of north Europe in Iceland
Source: Agencies |
April 21, 2012, Saturday
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Print Edition
Print Edition
PREMIER Wen Jiabao landed in Iceland yesterday at the start of a tour of northern Europe that will focus on Chinese investment in a continent eager for funds from the fast-growing Asian power.
That Wen chose to start his trip on a remote island of just 320,000 people has raised hopes for an injection of Chinese cash into an economy ravaged by the bursting of a financial bubble three years ago.
Over two days, Wen will see volcanic geysers and electricity plants where Iceland captures geothermal energy.
The government expects a deal with Wen to cooperate on developing such resources in east Africa, where China is already a big investor and buyer of raw materials.
Wen will also visit Germany, Poland and Sweden. He will discuss investment and industrial projects.
Last year, Iceland's government rejected a plan by multi-millionaire Chinese developer Huang Nubo to build a tourist resort in the northeast corner of the island, saying it did not meet legal requirements on foreign ownership.
A livid Huang, who went to university with Icelanders, said the decision revealed Western "hypocrisy" and that foreigners wrongly assumed Chinese firms had ties to China's military.
Huang is still pursuing the project and is in the midst of negotiating a new plan with Icelandic municipalities.
Many expect China to raise the issue of gaining observer status in the Arctic Council, which comprises Canada, Finland, Iceland, Norway, Russia, Sweden, the United States and Denmark, all of them with territory inside the Arctic Circle.
With ice receding faster than many had expected, some estimates suggest the polar ice cap might disappear completely in 2040, or perhaps much earlier.
That could slash the journey time from Europe and the east coast of North America to Chinese and Japanese ports by well over a week, possibly taking traffic from the southern Suez Canal route.
"China is willing to make contributions toward the peace, stability and sustainable development of the Arctic region, and it is on that basis that China seeks cooperation with Iceland," Chinese Vice Foreign Minister Song Tao told reporters.
Trade will also top the agenda during meetings.
Iceland was the first European country to start free trade talks with China, though the process was suspended in 2009 as the crisis-hit nation applied to join the European Union.
That Wen chose to start his trip on a remote island of just 320,000 people has raised hopes for an injection of Chinese cash into an economy ravaged by the bursting of a financial bubble three years ago.
Over two days, Wen will see volcanic geysers and electricity plants where Iceland captures geothermal energy.
The government expects a deal with Wen to cooperate on developing such resources in east Africa, where China is already a big investor and buyer of raw materials.
Wen will also visit Germany, Poland and Sweden. He will discuss investment and industrial projects.
Last year, Iceland's government rejected a plan by multi-millionaire Chinese developer Huang Nubo to build a tourist resort in the northeast corner of the island, saying it did not meet legal requirements on foreign ownership.
A livid Huang, who went to university with Icelanders, said the decision revealed Western "hypocrisy" and that foreigners wrongly assumed Chinese firms had ties to China's military.
Huang is still pursuing the project and is in the midst of negotiating a new plan with Icelandic municipalities.
Many expect China to raise the issue of gaining observer status in the Arctic Council, which comprises Canada, Finland, Iceland, Norway, Russia, Sweden, the United States and Denmark, all of them with territory inside the Arctic Circle.
With ice receding faster than many had expected, some estimates suggest the polar ice cap might disappear completely in 2040, or perhaps much earlier.
That could slash the journey time from Europe and the east coast of North America to Chinese and Japanese ports by well over a week, possibly taking traffic from the southern Suez Canal route.
"China is willing to make contributions toward the peace, stability and sustainable development of the Arctic region, and it is on that basis that China seeks cooperation with Iceland," Chinese Vice Foreign Minister Song Tao told reporters.
Trade will also top the agenda during meetings.
Iceland was the first European country to start free trade talks with China, though the process was suspended in 2009 as the crisis-hit nation applied to join the European Union.
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