Chinese president arrives in Germany, to sign economic deals

Chinese President Xi Jinping in Berlin arrived Friday on a two-day visit to Germany, that will see a host of economic agreements signed between the two countries.The highlight of those deals include a $1.38 billion agreement between Germany’s Daimler carmaker and its Chinese partner Beijing Automotive, German news agency DPA says. The deal is related to increasing the motor production of their joint venture Beijing Benz. Daimler owns a 12% stake in Beijing Automotive, worth 625 million Euros.Germany is the biggest trade partner of China in the European Union. Bilateral trade in 2013 was worth $161.6 billion.Jinping was welcomed by German President Joachim Gauck. The Chinese President is set to meet with German Chancellor Angela Merkel later today. Jinping’s visit is part of a four-country Euro trip that included Netherlands, Belgium and France.Jinping had met with US President Barack Obama during his visit to the Netherlands. Both leaders were attending the Nuclear Security Summit.