TOULOUSE - The Chamber of Commerce and Industry of Toulouse (Toulouse CCI) and Industrial & Commercial Bank of China (ICBC), one of Chinese leading banks, Thursday signed an agreement to develop commercial relations between France and China.

According to the agreement, the Toulouse CCI will advise on investment projects for companies wishing to expand activities in China. The selected projects will then be put in touch with ICBC, which will be the financing body.

ICBC will establish a credit line amounting to 1 billion euros ($1.11 billion) over the next five years to support the projects selected by Toulouse CCI and also offer such services as providing information about financing tools and international markets, among others.

Jean-Michel Vernhes, Chairman of the Management Board of Aeroport Toulouse-Blagnac (ATB) said "this partnership, which will facilitate links with China, will open up potential markets to local businesses. ATB will be actively involved in this cooperation and will act as a facilitator to develop exchanges between the two countries."

Alain di Crescenzo, chairman of the Toulouse CCI, hailed the signing of the agreement, which will further the Toulouse CCI's commitment to the economic development of the region, as "an outstanding opportunity for our businesses."