China, Denmark to expand green tech trade

China, Denmark to expand green tech trade

Summary: Both countries to sign agreement to boost commercial ties in energy efficiency, environmental protection and sustainable urban development, report says.

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China is set to boost trade with Denmark in the green technology sector as part of a wider agreement to be signed during Chinese president Hu Jintao's three-day state visit to Copenhagen, a report says.

According to a Reuters article Thursday, Danish officials said that the agreement will boost commercial ties in energy efficiency, environmental protection and sustainable urban development.

The Danish foreign ministry said in a statement, that the green technology agreement will be signed on Saturday by Denmark's minister for trade and investment, Pia Olsen Dyhr, and her Chinese counterpart, Commerce Minister Chen Deming, according to the newswire.

It noted that both countries would establish a working group with participants from both the public and private sector to promote trade and reduce market barriers in the green technology area.

"China is expected to be the world's biggest market in 2014 for sustainable energy and already today is the biggest for wind power," the foreign ministry said in the statement.

Reuters noted that Denmark was a world leader in wind energy, meeting roughly a quarter of its electricity needs with wind. It is also home to the world's biggest wind turbine manufacturer, Vestas.

Last month, the Chinese government said it would spend US$27 billion on green technology in 2012, including subsidies to boost consumption of energy-saving household electrical applicances.

Topics: IT Employment, CXO, Emerging Tech, Hardware

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Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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