EU Trade Commissioner Peter Mandelson today in Beijing co-chaired the 23rd EU-China Joint Economic and Trade Committee with Commerce Minister Chen Deming. The three-hour meeting covered a wide range of topics, including trade in goods and services, Intellectual Property RIghts, sustainable development and trade, and investment. During the Joint Committee the two sides agreed on a number of points of consensus to overcome hurdles in the EU-China trade relationship.
Speaking at a joint press conference with Minister Chen following the meeting, Commissioner Mandelson said: “We have made some progress today in identifying new trade opportunities, breaking down barriers and keeping solid Investment flowing both ways. There is still some work to be done. Isolation and protectionism will not solve the economic problems we face.”
Some of the significant points from the Joint Committee meeting included:
Commissioner Mandelson and Minister Chen welcomed that a technology transfer licence agreement was reached between a European telecommunication equipment manufacturer and its Chinese counterpart. The two sides encouraged more European and Chinese companies to conclude similar agreements.
Trade in agricultural products: The two sides agreed to speed up agreement on the safety conditions for European exports of fruit and pork to China (so-called Sanitary and Phytosanitary (SPS) protocols).
IPR: The two sides sought to conclude an IPR Customs Enforcement Action Plan to be signed at the EU-China Summit in December. There was also a commitment to work on resolving issues addressed in the EU-China working group on online piracy.
Geographical Indications: The two sides agree to prepare through a study the negotiations for an agreement on Geographical Indications.
Cosmetics: China agreed to accelerate the process of revising and streamlining cosmetics standards.
Pharmaceuticals: Concerning the imports of Active Pharmaceutical Ingredients (API) into China , China agreed to consult interested parties (including EU industry) on ways of reducing the cost of importing these products.
The two sides agreed to continue work on green initiatives and identify concrete measures and projects, including on the low-carbon economy, Clean Development Mechanism (CDM) and environmental goods and technologies.
Commissioner Mandelson is in China for a four-day visit to Beijing and Tianjin . Today he will also see Vice Premier Wang Qishan to discuss EU-China relations in the context of the current economic climate. He will travel to Tianjin on Friday, where he will deliver a speech on challenges for foreign investment in China , and participate in a World Economic Forum panel discussion on the Global Economic Outlook.
Background
The EU-China Joint Economic and Trade Committee was established in 1985 through the Trade and Economic Cooperation Agreement between the EU and China , in order to promote trade and economic cooperation. The Joint Committee meets annually, the venue alternating between EU and China . The meeting is chaired at ministerial level.
China is the single most important challenge for EU trade policy. Barriers 'behind the border' in the Chinese market are costing European businesses more than EUR20 billion every year in lost exports. China has re-emerged as the world's fourth economy and third exporter, but also an increasingly important political power. EU-China trade has increased dramatically in recent years and now totals over EUR 300 billion. China is now the EU's 2nd trading partner behind the USA and the biggest source of imports. The EU is China 's biggest trading partner.
For more information see attached the Points of Consensus document available on our web site:
