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EU, China agree to promote trade, investment

(Xinhua)
Updated: 2009-05-08 22:14

The European Union and China on Friday agreed to promote trade and investment as a way to counter the world economic crisis.

"The two sides agreed that in the face of the current severe international financial crisis, China and the EU should strengthen cooperation," Chinese Vice Premier Wang Qishan told journalists after two days of high-level talks with EU officials led by Trade Commissioner Catherine Ashton.

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Wang said the two sides also reiterated their commitment to jointly advancing trade liberalization and investment facilitation "and maintaining an open environment for trade and investment."

The vice premier, standing with Ashton, also called for joint efforts with the EU to push for a swift conclusion of the long-stalled Doha Round of global trade talks.

"The two sides agreed to oppose protectionism in trade and investment, consolidate the already progress in the Doha round of negotiations and work for the early success of the round of negotiations," Wang said.

Wang's call was echoed by Ashton.

"Trade and investment will lead us out of the current crisis," she said. "The EU and China therefore stand together today in calling for the swift conclusion of the Doha Round, which will help us trade our way out of recession."

In addition to Wang and Ashton, eight EU commissioners and 12 Chinese ministers or vice ministers participated in the second annual meeting that covered a variety of topics, including trade, product safety and intellectual property rights.