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Signing Ceremony for Technical and Economic Cooperation Agreement Between FSM and China

Palikir, Pohnpei (FSM Information Services): June 7, 2010 - A grant aid of Twenty Million Renminbi Yuan (RMB 20,000,000 Yuan) from the Government of the People's Republic of China to the Government of the FSM, for economic and technical cooperation, was approved on May 26, 2010. An official signing ceremony was held on that date at the Department of Foreign Affairs in Palikir, the Agreement was executed by Lorin Robert, Secretary of the Department of Foreign Affairs and Ambassador Zhang of the People's Republic of China.

This Agreement came as a result of President Mori's discussions with President Hu Jintao, when they met at the opening ceremony of the Shanghai World Expo in May 2010. President Hu Jintao proposed the grant with a view to further develop friendship and cooperation with the government of FSM.

Robert asked Zhang to convey FSM's great appreciation to President Hu Jintao and the people of the PRC for their technical and economic assistance. "Strengthening our relationship with the People's Republic of China is a source of great pride for the FSM," said Robert. Zhang stated "we are all developing countries, we need to help each other as brothers and sisters."

In addition to this grant aid Agreement, a supplementary construction contract was executed by Robert and Zhang confirming final payment of RMB 1,680,000 owed pursuant to the Construction Contract for the China-aided Kosrae High School Project of June 17, 2008.