EU and China to debate economic and trade issues at high level dialogue

The EU and China will hold their third High Level Economic and Trade Dialogue (HED) on 20 and 21 December in Beijing. It is the first such meeting since the entry into force of the Lisbon Treaty and will cover macro-economic challenges facing the international economy, competition questions as well as trade, investment, innovation, and customs cooperation.

Commission Vice-President in charge of competition policy Joaquín Almunia said: "The European Union and China are both global partners that have much to gain from each other. It is our interest to develop economic relations that are mutually beneficial and provide the best opportunities for our respective citizens. The EU and China must both be actors in the solution of global challenges such as current macro-economic imbalances, development of trade flows, access to raw materials and the need for a more efficient energy use worldwide."

"European businesses have vastly contributed to China’s economy over the last decade," said EU Trade Commissioner Karel De Gucht. "We want to stay in the game and be part of China’s future economic development. A constructive dialogue that looks at both the challenges and the opportunities is the way to make this happen."

The HED offers an opportunity to discuss EU-China relevant topics across the board. It is co-chaired by European Commission Vice-President in charge of competition policy Joaquin Almunia, Trade Commissioner Karel De Gucht, Commissioner for Economic and Monetary Affairs Olli Rehn as well as Chinese Vice-Premier Wang Qishan. The EU will further be represented by Commissioner for Taxation and Customs Union Algirdas Šemeta, Director General for Enterprise Heinz Zourek and Deputy Director-General for Information Society Antti Peltomaki.The meeting takes place as the global economy is gaining a more solid foothold and at a juncture where both the EU and China are moving forward with bold plans for the future of their economies. It is important for the EU and China, two of the largest economies in the world, to discuss the economic challenges they face. Both EU and China can contribute, through their policies and enhanced bilateral cooperation and within the G20, to more solid, sustainable and balanced global growth.

News source: EU Press Room link: article