Boeing chairman and CEO Phil Condit is hailing the signing of the agreement that removes US opposition to China joining the World Trade Organisation (WTO), saying it will boost business for US companies.

Condit, who serves as chairman of the Task Force on International Trade and Investment, the business roundtable on reaching trade agreement with China, is also calling on the US Congress to speed normal trading status for China in the wake of the agreement signed by the two countries in Beijing.

Both Boeing and Airbus have forecast rapid growth in China's aviation market over the next 20 years, saying the country's airlines will require well over 1,000 new aircraft.

Source: Flight Daily News