Major trading house Nissho Iwai Corp. will team up with Samsung Electronics Co. of South Korea to expand its business in China, Nissho Iwai officials said Tuesday.
The broad alliance is based on expectations of market growth in China due to its entry into the World Trade Organization on Dec. 11, the officials said.
The two companies will launch a committee to discuss expanding their business in China, including possibly setting up a joint venture and distribution systems.
They plan to hold regular meetings, the first of which will be this month in Beijing or Shanghai, the officials said.