In an effort to reduce tension over trade imbalances and geopolitical issues. China And Europe Co-operate To Reduce Trade Tension. China and the European Union have agreed to share information on export controls. Europe’s trade commissioner declared that the relationship was at a “crossroads” and that the exporters of the bloc needed better access to the second-largest economy in the world.
In order for our relationship to be mutually beneficial and to be based on transparency, fairness, predictability, and reciprocity, it needs to be rebalanced. In a statement, Valdis Dombrovskis said, “I am pleased that we made progress in addressing some market access issues.
The European Commission said in a statement released on Monday that the two parties also decided to increase transparency in raw material supply chains and are looking into a new “mechanism” to do so.
In Beijing, where he met with Chinese Vice Premier He Lifeng on Monday, Dombrovskis is nearing the end of his trip. The flow of agricultural products and alcoholic beverages will be a focus for the two parties. And China has promised to clear a “backlog of applications for licenses of infant formula,” the Commission said.
After the meeting, He told reporters that China was ready to increase its imports from the EU. And expressed hope that Europe would lift its prohibitions on exporting high-tech goods to China.
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China And Europe Co-operate To Reduce Trade Tension- Relations between the two countries have deteriorated recently. Particularly after the European Union opened an investigation into China’s state support for electric vehicle (EV) manufacturers because rising imports of Chinese cars have stoked concerns about the future of European automakers. This month, the investigation was dubbed “blatantly protectionist” by China’s commerce ministry.
before the meeting The European Union has been compelled to be more assertive in its dealings with the second-largest economy in the world. As a result of China’s trade practices, according to Dombrovskis on Monday.
He declared in a speech at Tsinghua University, “We stand at a crossroads. “We have a path toward relationships that are mutually beneficial. one that is built upon free, equitable trade and investment… Or we can decide to take a course that gradually pulls us apart.
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