EU and China discuss trade and economic relations

xi jinping

From left to right: Mr Xi JINPING, President of the People’s Republic of China; Mr Charles MICHEL, President of the European Council; Ms Ursula VON DER LEYEN, President of the European Commission.
Copyright: European Union

This article is brought to you in association with the European Commission.


The European Union and China held today their 8th High-Level Trade and Economic Dialogue (HED). Executive Vice-President Valdis Dombrovskis, accompanied by Commissioner for Trade Phil Hogan, held the meeting via videoconference with Chinese Vice-Premier Liu He accompanied by several Vice-Ministers. The HED focused on the joint response to coronavirus and global economic governance issues, bilateral trade and investment concerns, and cooperation in the area of financial services and taxation, as a follow up to discussions in the EU-China Summit on 22 June.

Executive Vice-President Dombrovskis said: “The current crisis gives us no other option but to work hand in hand with our global partners, including China. By pulling together we can recover more quickly economically, and make progress on areas of mutual interest such as trade and investment relations. However, we also need to address sticking points such as reciprocity in the way our companies are treated. We will need to make further progress on these and other issues ahead of the next leaders’ summit in the autumn.”

Commissioner Hogan said: “EU-China bilateral and trade relations must be based on the key principles of reciprocity and level-playing field based on clear and predictable rules. Today I have called upon China to engage in serious reform of the multilateral system and its rulebook and to remove the existing barriers impeding access to the Chinese market of EU exporters of goods and services as well as of European investors. Such an approach by China would show a level of responsibility which reflects its economic and trade importance.

The meeting allowed the two sides to exchange views on the ongoing negotiations on a Comprehensive Agreement on Investment following the last negotiating round which took place on 20-24 July. The EU registered the significant progress made on level playing field related issues, while highlighting that equally significant work that still remains to be done on key issues such as market access and sustainable development. On market access, the EU reiterated its request for improvements of China’s offer in the telecommunication and computer sectors, health, biotechnology and new energy vehicles. On sustainable development, the EU insisted upon the political importance of meaningful commitments in this area and the need for China to increase its ambition and engagement.

With regards to market access, the EU recalled its request to China to authorise Member States’ exports of agricultural products currently awaiting export authorisation, as it is the case in the beef and poultry sector. The EU also outlined its concerns about new restrictions introduced on food exports, on the ground of controlling the coronavirus pandemic, leading to an increased number of unjustified inspections, controls and requests for certificates on EU exports of agricultural products.

Both sides also discussed Market Access in the financial services sector, with the EU side encouraging China to continue opening China’s financial services market to foreign investment.

A range or regulatory issues in the financial services area were also discussed, including cooperation on green finance, equivalence assessments, and the international role of the Euro and of the RMB. The two sides exchanged views on the current coronavirus pandemic and the need to work closely in the international arena to ensure a coordinated response to both the health and economic emergencies.

The EU and China agreed on the need to ensure the continued relevance of the World Trade Organization in addressing global trade challenges. In line with the 2019 EU-China Summit Joint Statement, the EU reiterated the urgent need for China to engage in future negotiations on industrial subsidies.

The EU also called upon China to start exploratory talks for an agreement with the EU covering administrative cooperation to fight VAT fraud.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Venezuela: Parliament calls for urgent EU help for people fleeing the country

The impact of COVID-19 on the life of the elderly

Hurdles on creating effective vaccine campaigns against COVID-19

The role of junior entrepreneurs as a bridge between academia and business world

Can privatisation be the panacea for the lack of growth in Europe?

Peacekeeping chief highlights challenges facing UN Police

From Russia with love: Brussels and Moscow close to an agreement on Ukraine’s gas supplies

European Youth Forum welcomes steps towards raising awareness of youth rights by EU ministers

European Semester Spring Package: Paving the way for a strong and sustainable recovery

Jakarta is one of the world’s fastest disappearing cities

The Commission accused of tolerating corruption and fraud in taxation

Parliament urges EU to take drastic action to reduce marine litter

Feeding a city from the world’s largest rooftop greenhouse

Two EU Commissioners fire at will against the US

Coronavirus response: over €1 billion from EU Cohesion policy to support Spain’s recovery

Spending on health increase faster than rest of global economy, UN health agency says

Europe must regain its place as world leader in digital technology

3 ways the coronavirus is affecting animals around the world

EU guidance on the handling of visa applications from residents of Ukraine’s Donetsk and Luhansk regions

One person dies by suicide every 40 seconds: new UN health agency report

Palm Oil: With Malaysia cracking down on production, what’s the alternative?

Here’s what COVID-19 teaches us about ‘social learning’ and the environment

‘Ground Zero’: Report from the former Semipalatinsk Test Site in Kazakhstan

To save biodiversity, MEPs call for binding targets at global and EU level

Eurozone: The crisis hit countries are again subsidizing the German and French banks

Germany to help China in trade disputes with Brussels

The three US financial war fleets

These 3 countries are global offshore wind powerhouses

EU and Germany join efforts to support the African Union’s response to coronavirus

Five ways individuals can help save the oceans

Eurozone banks to separate risky activities: Can they stay afloat?

Microsoft says the internet is getting a little nicer

Entrepreneurship and strategic planning: the enabler

5 of the world’s deadliest infectious diseases

How 5G can connect the affordable homes of the future

‘No-deal’ Brexit: European Commission takes stock of preparations ahead of the June European Council (Article 50)

Afghanistan: UN ‘unequivocally condemns’ attack in Kabul

Denmark is experimenting with ‘culture vitamins’ to lift people out of depression

Latin America’s cities are ready to take off. But their infrastructure is failing them

The EU lets the bankers go on rigging the benchmarks

Snowden is the “EU nomination” for this year’s Oscars

EU helps tackle air pollution in Kosovo with €76.4 million

How will the NATO-EU competition evolve in the post Brexit era?

Outbreaks and pandemics periods can be stressful, but how can we turn it to a positive life-changing experience?

Coronavirus Global Response: WHO and Commission launch the Facilitation Council to strengthen global collaboration

Teen activist Greta Thunberg arrives in New York by boat, putting ‘climate crisis’ in spotlight

A Europe that protects: EU customs seized over 31 million fake goods at EU borders in 2017

The Fourth Industrial Revolution is redefining the economy as we know it

How Sierra Leone is using 3D printing to become a model state

2018 Golden Pen of Freedom Awarded to Maria Ressa of the Philippines

5 things we can do in 2021 that will protect the ocean and change lives

MEPs call for additional EU sanctions against Russia over Navalny’s imprisonment

ECB to people: Not responsible if you lose money on Bitcoin, your governments are

COVID-19 shows we need a broader definition of safe mobility

‘Green economy’ pioneer Pavan Sukhdev wins 2020 Tyler Prize for Environmental Achievement

Combat against devastating effects of tobacco can only be won ‘if the UN stands united’ – UN health official

ECB to play down IMF’s alarms for deflation danger in the EU

EU: All economic indicators in free fall

Palliative care: how understanding terminal pain and suffering guarantees the dignity of human rights

An open letter to Europe’s leaders

More Stings?

Trackbacks

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s