WEF signs collaboration agreement with China

The World Economic Forum (WEF) and China’s National Development and Reform Commission have signed an agreement to develop closer collaboration, it was announced on Tuesday.
The memorandum of understanding will see the two parties strengthen communication and consultation on a range of topics and activities that are critical for China and global sustainable development, according to a statement.
The document commits both parties to developing deeper collaboration over a period of 10 years.
It was signed during a ceremony witnessed by Chinese President Xi Jinping and WEF Executive Chairman Klaus Schwab in Davos.
President Xi gave the opening plenary address at this year’s WEF meeting in Davos, which runs until Friday.
He is the first Chinese president to address Davos, although China sent its first delegation to Davos in 1979.
WEF and the National Development and Reform Commission have cooperated closely since 2007 on the Annual Meeting of the New Champions in China, also known as the “Summer Davos.” During this time, the meeting has become the world’s leading event on science, technology, innovation and entrepreneurship.
The latest agreement “opens a new chapter of deepened partnership across a wide range of strategic priorities,” a statement said.
“The forum gathers the world’s insights and builds platforms for public-private cooperation to tackle today’s global challenges in which China’s participation and its valuable experience in opening-up and reform are essential. A deeper cooperation between the forum and China will be not only a win-win for both of us, but also beneficial for better understanding and collaboration of the international community at large,” said David Aikman, chief representative officer for China, and member of the WEF executive committee.

Source: Arab News