EU and China discuss trade and economic relations
The European Union and China yesterday held 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 yesterday 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 yesterday 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.
For more information
EU and China discuss trade and economic relations English (56.276 kB – PDF)
+32 2 295 61 85
+32 2 295 13 83
Latest News from
Belarus: Declaration by the High Representative on behalf of the European Union on the presidential elections12/08/2020 15:25:00
On 9 August, Presidential elections took place in the Republic of Belarus.
Coronavirus: 23 new research projects to receive €128 million in EU funding12/08/2020 13:25:00
The Commission will support 23 new research projects with €128 million in response to the continuing coronavirus pandemic.
State aid: Commission approves German aid scheme to support airports affected by the coronavirus outbreak12/08/2020 12:33:00
The European Commission has approved a German aid scheme to support airports in the context of the coronavirus outbreak.
State aid: Commission opens in-depth investigation into public support for expansion of LG Chem's electric vehicles battery plant in Poland12/08/2020 10:25:00
The European Commission has opened an in-depth investigation to assess whether €95 million of public support granted by Poland to chemical company LG Chem Group (“LG Chem”) for investing in the expansion of its battery cell production facility for electric vehicles (EV) in Biskupice Podgórne in the Dolnoślaskie region (Poland) is in line with EU rules on regional State aid.
Glycoalkaloids in potatoes: public health risks assessed12/08/2020 09:25:00
EFSA has assessed the risks to human and animal health related to the presence of glycoalkaloids in food and feed, particularly in potatoes and products derived from potatoes.
Coronavirus: Eight macro-financial assistance programmes agreed to support enlargement and neighbourhood partners11/08/2020 16:10:00
As of today, the Commission, on behalf of the EU, has agreed Memoranda of Understanding (MoU) on macro-financial assistance (MFA) programmes with eight partners.
EU Solidarity Fund: Commission gives financial support to Croatia following earthquake11/08/2020 15:25:00
The Commission announces today a first disbursement of financial aid worth €88.9 million under the EU Solidarity Fund (EUSF) to Croatia, following the devastating earthquake that hit the city of Zagreb and its surroundings on 22 March 2020.
EASO publishes a COI report: Afghanistan, Anti-Government Elements (AGEs)11/08/2020 13:25:00
On 10 August 2020, the European Asylum Support Office (EASO) published a Country of Origin Information (COI) report titled ‘Afghanistan, Anti-Government Elements (AGEs)’.
Intervention by EU Commissioner for Crisis Management Janez Lenarčič at the international donors conference for Beirut and in support of the Lebanese people11/08/2020 09:25:00
Intervention by EU Commissioner for Crisis Management Janez Lenarčič at the international donors conference for Beirut and in support of the Lebanese people (09 August 2020).
European Commission pledges additional €30 million in immediate support for Lebanon10/08/2020 16:38:00
At the international conference on assistance and support to Beirut and the Lebanese people, the European Commission has pledged a new funding worth €30 million to help address the immediate needs of those affected by the deadly explosion in Beirut on 4 August.