THE doors have been opened for expanding trade and commerce links with one of the fastest growing markets in the world.

A delegation from the regional development agency Yorkshire Forward has been forging new links with commercial interests in the Chinese province of Zhejiang.

Agency chairman Graham Hall has now signed a formal Memorandum of Understanding with the Zhejiang governor Chai Songyue.

The agreement has been designed to promote economic and technological cooperation between Yorkshire and Humber and the province, which is the fourth richest in China.

The move will open the door to a £50bn market for the region's businesses, with Yorkshire Forward aiming to increase the number of exporters by at least 30 per cent over the next three years.

The agency is also attempting to boost the value of exports to the province, which are currently worth £97m, by at least ten per cent a year.

The signing ceremony in Hangzhou was attended by trade mission delegates from ChinaVentures and delegates for the Zhejiang provincial government.

And today, nearly a dozen companies from Yorkshire and Humber will be promoting the region at a special trade fair showcasing the benefits of investing in their region.

The event will in turn be followed by the first trade delegation from Zhejiang, which will visit this country in August.

Zhejiang, which has a population of 46m and a gross domestic product of £50bn, has been chosen because it is seen as an industrial match with the Yorkshire and Humber region.

It is home to a wide variety of major industries including chemicals, pharmaceuticals, electronics and textiles as well as food and drink - and is widely believed to offer huge potential for major new trading links and exports.