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Policy: Economy

New pact strengthens Iowa economic ties with China

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News,Business,Economy

DES MOINES, Iowa (AP) — Iowa officials have signed an agreement to strengthen the state's economic ties with China.

The Des Moines Register says (http://dmreg.co/SAn0pH ) 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 (shee jihn-peeng), 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.

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Information from: The

Des Moines Register, http://www.desmoinesregister.com

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