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New pact strengthens Iowa economic ties with China

Iowa officials have signed an agreement to strengthen the state's economic ties with China.

The memorandum of understanding was signed Thursday in Des Moines with officials from China's Ministry of Commerce and four provinces in northeast China.  The agreement includes creation of a joint working group to enhance trade and investment.

In addition, the Chinese agreed to buy $100 million worth of U.S. soybeans.

Iowa economic development director Debi Durham says the agreement is a result of the February 2012 Iowa visit by President Xi Jinping, who was vice president at the time.

The $100 million soybean contract covers soybeans planted this spring, for delivery after the harvest.  The deal represents 200,000 tons of soybeans.

posted : June, 6th by KXEL


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