BOLTON has fostered new links with the Far East, with the signing of an agreement to promote economic and commercial co-operation.

A signing ceremony took place at the Town Hall yesterday as part of a three-day visit by an eight-strong trade delegation from Xiuzhou District, Jiaxing City, in China.

The agreement aims to promote trade and investment links between Bolton and China, one of the world's fastest growing economies. It will help Bolton Council and the Business Bolton service develop new relationships with the government of Xiuzhou and provide opportunities for local businesses to take advantage of the potential for growth in China.

The delegation included the governor and deputy governor of the People's Government of Xiuzhou District, plus senior company executives from the region who took part in networking events with Business Bolton representatives and local businesses. The events also showcased the range of investment and business development opportunities in Bolton for local and overseas businesses.

The agreement will build on links with the region established by local businesses General Traffic, Cohens Group and Rosemead Designs. All three businesses are members of the Bolton Business Investor Group, which is helping Bolton Council consolidate the town's position as a major economic player in the Greater Manchester region.

Rosemead Designs, which has been successfully trading in China for seven years, has now established a furniture manufacturing operation in Xiuzhou.

Xiuzhou District, which is 50 miles from Shanghai, has a population of 500,000. It has several well developed industries including textiles, household electric appliances, machinery manufacturing, electronics and information technology.

Councillor Akhtar Zaman, Bolton Council's executive member for regeneration, said: "The signing of this partnership agreement will help local businesses take advantage of the huge growth potential in China and hopefully attract investment from the Far East that will contribute towards Bolton's continuing regeneration, which is vital to bringing more jobs and long-term prosperity to the town."

This is the second co-operation agreement that Bolton has signed with China. In 2004, the town signed a sister city agreement with Zhaoqing municipality and agreed to work together to develop economic, commercial, cultural, educational and health opportunities both here and in China.

Latif Jiva, sales director of Rosemead Designs, said the arrangement will make it easier for other companies to maximise on the same benefits that his company has enjoyed.

He said: "China has a successful track record in supporting and encouraging foreign investment. Its infrastructure at a local and national level has helped us to establish our own factory and supply chain and become fully licensed to export all products.

"Jiaxing's inks to Bolton can only be good news for the region and its businesses."