Nansha FTZ opens European trade agency in Munich

The Nansha Free Trade Zone recently opened an agency in Munich, Germany to boost trade ties with Europe.

Launched by the Department of Commerce of Guangdong Province and the China (Guangdong) Pilot Free Trade Zone Nansha Area of Guangzhou, the agency will be dealing with trade and economic issues between Nansha and Europe.

The agency plans to further strengthen economic and trade ties with Europe, the United States, and countries along the Belt and Road, build an overseas economic and trade network for Nansha, and attract more overseas investment and talents.

The agency is expected to attract high-end global resources and help Nansha play a key role in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative.

It will also help promote Nansha's investment and business environment among European investors and increase the district's global exposure. The agency has already engaged in cooperation with chambers of commerce in Germany.

Nansha has maintained a healthy business relationship with Germany for a long time. As of December 31, 2018, there were eight companies from Germany investing $36.5 million in Nansha, with a total registered capital of $18 million.