This year marks the 60th anniversary of diplomatic ties between China and France, a milestone that highlights six decades of robust economic and trade cooperation. Over the past sixty years, the partnership between these two nations has not only fueled their own economic development but has also played a significant role in the global economic recovery.
As both countries celebrate this landmark, leaders are looking to deepen their economic bonds further. Kevin P. Gallagher, professor of global development policy and director of the Boston University Global Development Policy Center, emphasized the importance of this relationship. \"France and China can lead the way in helping recreate globalization again since there's been a little bit of a retreat due to other tensions,\" Gallagher told CGTN.
He added, \"The global economy needs integration,\" underscoring the mutual trust between France and China, which has been built over years of diplomatic engagement.
The economic complementarity between China and France opens vast opportunities for trade and investment. China holds a competitive edge in manufacturing electronic products and machinery, whereas France excels in sectors like aerospace, nuclear energy, high-end consumer goods, agricultural products, and wines.
In 2023, France emerged as China's third-largest trading partner within the European Union, with bilateral trade reaching a total of $78.9 billion. Additionally, France stands as China's third-largest source of actual investment. On the flip side, China is France's largest trading partner in Asia and the seventh-largest globally, underscoring the strength and depth of their economic ties.
As China and France look to the future, their enduring partnership serves as a beacon of collaboration and economic prosperity, not just for their nations but for the global community as a whole.
Reference(s):
cgtn.com
