Home » In The News » San Bernardino Seeks to Strengthen Trade, Investments with China

San Bernardino Seeks to Strengthen Trade, Investments with China

by admin on 20th-July-2017

San Bernardino, CA

Shiane Daima Jacocks

Earlier this month, the County Board of Supervisors gave a unanimous “green light” to establish a foundation for strengthening bilateral trade and investment opportunities with China. 

The county’s Economic Development Agency (EDA) is engaged at the local, regional, and state levels to increase international trade and attract foreign direct investment by leveraging assets and collaborating with regional partners to enhance and grow the local economy. 

China was identified as a country of focus for the EDA in its pursuit of expanding local markets, enhancing supply chains, supporting businesses for growth through exports, and the attraction of investment. According to the agency, an opportunity currently exists to sign a Letter of Intent with the Foreign Affairs and Overseas Chinese Affairs Office of Lianyungang Municipal Government in China. 

A letter of intent was approved between San Bernardino County and Lianyungang, Jiangsu, China by Dena Smith, currently serving as the county’s interim Chief Executive Officer and County Counsel. It will be authorized and signed by the Chairman or the Vice Chairman of the Board during a meeting between County officials and the Office of Lianyungang Municipal Government representative. 

The State of California and the Ministry of Commerce People’s Republic of China (MOFCOM) signed a Memorandum of Understanding (MOU) on April 10, 2013, to bolster economic ties and cooperation between California and China. The agreement established a joint working group that includes California, MOFCOM, and leaders from seven provinces – autonomous regions and municipalities directly under the central government – Jiangsu, Inner Mongolia, Shanghai, Shandong, Guangdong, Chongqing, and Hebei. Key objectives of the MOU include expanding trade and investment cooperation, strengthening communication, enhancing trust, boosting economic growth, and creating jobs. 

This MOU between California and China included the formation of a “Joint Working Group” on trade and investment cooperation. The EDA is an active participant in the Southern California Joint Working Group. 

Since there is an existing MOU, a Letter of Intent to establish a foundation for strengthening bilateral trade and investment opportunities between the San Bernardino County in California and the Office of Lianyungang Municipal Government in China is reasonable.

Category: In The News.
Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *