UN and US$ dominate Schroeder's Tokyo talks

8th December 2004, Comments 0 comments

8 December 2004 , TOKYO - Chancellor Gerhard Schroeder arrived in Japan on Wednesday for official talks in Tokyo following a three-day visit of China, which marked a deepening of Chinese-German economic ties. On Thursday, Schroeder will meet with Prime Minister Junichiro Koizumi on economic issues and to discuss strategies regarding having an expanded role in the UN Security Council as well as the plunging dollar, which has dropped against both the yen and the euro.

8 December 2004

TOKYO - Chancellor Gerhard Schroeder arrived in Japan on Wednesday for official talks in Tokyo following a three-day visit of China, which marked a deepening of Chinese-German economic ties.  

On Thursday, Schroeder will meet with Prime Minister Junichiro Koizumi on economic issues and to discuss strategies regarding having an expanded role in the UN Security Council as well as the plunging dollar, which has dropped against both the yen and the euro.  

Berlin and Tokyo are rivals for a permanent seat on the proposed enlarged Security Council.

Before his meeting with Koizumi the German chancellor will have an audience with Japanese Emperor Akihito. 

Schroeder, accompanied by a delegation of leaders of some 40 German businesses, will also meet with prominent representatives of Japanese companies before he departs on Friday. 

It is Schroeder's second official visit to Japan since taking office in 1998. 

Meanwhile as a mark of Germany's growing economic ties with China, US-German auto giant DaimlerChrysler on Wednesday said banking regulators had approved a vehicle financing venture in China.

"The initial approval is the first step in establishing vehicle financing in China, which the company expects to be operational in the fall of 2005," DaimlerChrysler said in a statement.

"The approval to set up vehicle financing in China is a milestone for DaimlerChrysler as it signifies that now all of the group's business units will be present here," Ruediger Grube, head of DaimlerChrysler's China operations, was quoted as saying.

DaimlerChrysler Services will run the financing venture.

"Just as we do in other markets, DaimlerChrysler Services will offer very competitive rates for passenger car customers and fleet owners from one source," said Bodo Uebber, head of DaimlerChrysler Services.

DaimlerChrysler plans to invest EUR 1.2 billion in China for its ongoing and future projects, which include Mercedes-Benz passenger car and van production, and production of heavy and medium-duty trucks.

With the China venture, Berlin-based DaimlerChrysler Services will have more than 100 vehicle financing subsidiaries in 40 countries. It manages a contract volume of EUR 105 billion and employs some 11,000 people, the company said.

Earlier this year, US-based General Motors said banking regulators had also approved plans by GM and its partner in Shanghai for a joint financing venture.

[Copyright DPA with Expatica]

Subject: German news

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