-- Press Release from the City of Sacramento Office of Media & Communications --

Partnership agreement signed focuses on mutual collaboration, shared opportunities to encourage economic development activity and job creation

Sacramento, CA (July 23, 2012) – In an effort to promote international economic development opportunities, officials of City of Sacramento and Chongqing, China today signed a landmark Memorandum of Understanding (MOU) outlining their plans to work together to encourage trade, investment and job creation, as well as explore ways to collaborate and work for mutual economic development.

Councilmember Rob Fong spearheaded this effort and worked diligently the past six months to make this opportunity a reality. The MOU was signed at Sacramento’s Historic City Hall by Sacramento City Manager John F. Shirey and Chongqing Foreign Trade and Economic Relations Commission’s President Wang Yi. The City of Chongqing, with a population of 32 million, is the leading transportation hub of Southwestern China and leads China in gross domestic product growth.

“Sacramento and Chongqing share the common goals of creating vibrant and diversified economies that focus on emerging growth sectors, including the green sector and education,” Mayor Kevin Johnson said. “As the state policy headquarters of California, Sacramento is a leader in sustainability, with a rich history in farming and manufacturing and world-class research and development potential. This is a global collaboration that aligns perfectly.”

“Today, we took a large step forward for the City of Sacramento in forging this relationship with Chongqing, a city located in a country with one of the largest and bustling economies in the world,” said John Shirey, City Manager. “This unprecedented collaboration will bring worldwide recognition to Sacramento, open up dialogue with Chongqing on how we can work together and learn from each other, and create ways to partner on shared initiatives.”

The MOU between Sacramento and Chongqing creates a framework for potential investment opportunities focused on clean energy technology, agriculture and food safety, and education. It will also look at ways to create partnerships between the public, private and educational institutions in both cities.

As part of the MOU, the City of Sacramento will determine the feasibility of opening up a trade and education office in the heart of Chongqing, China. There may also be the creation of an alternating festival between the two cities that would focus on activities aimed at exchanging economic, educational, cultural, and government operational information.

“This cooperation agreement with Chongqing truly represents a win-win for both cities,” said Councilmember Rob Fong. “Creating this relationship will allow the city to use its existing assets, resources and human capital in a way that will ultimately spur direct and reciprocal investment opportunities with our Far East partner.”

Chongqing has a strong presence in the state and throughout the nation already, having partnership agreements with UC Davis and other areas in the nation. Chongqing is a major manufacturing center and transportation hub.

"Chongqing Municipality is looking forward to a long term relationship with the California State Capital City of Sacramento,” said Wang Yi, President of Chongqing Foreign Trade and Economic Relations Commission. "Together, we will work diligently to build a solid foundation that will be mutually beneficial to both cities, its people, its businesses, and its educational institutions.