- 09-May-2008

Both China and the EU regard the first high level economic and trade dialogue (HED) as an extraordinary success politically and practically. More talks at various levels will be held soon.

Mr. Yu Yuantang, director in charge of the EU and Benelux affairs of the Ministry of Commerce of China, commented that in a video interview with People's Daily last Friday, a few days after the China-EU High Level Economic and Trade Dialogue was held in Beijing on April 25.

Firstly, the commencement of the HED itself means that the consensus reached between Chinese and EU leaders during the 10th Summit last November has been translated into practice. Secondly, the consensus of this dialogue has proved the value of HED in establishing and consolidating mutual trust between the two important players in the global economic and trade field: the common willingness for a policy of openness and opposition to protectionism, the agreement on further cooperation and dialogues for a win-win prospect. That is particularly important at the time when there is mounting pressure of protectionism from some EU member states and industries.

The first HED has made tangible achievements. It was the first time that some of the issues, like energy, had been a part of the discussions on bilateral trade and economic relations. A master plan has been drafted which sets the principles, guidelines, framework, agenda and frequency of future dialogues.

The HED will focus on the "strategic, forward-looking and plan-setting" issues. It will not "duplicate, replace or weaken" the existing China-EU economic and trade talks and mechanisms ranging from the director-general level to the vice minister and minister levels. The economic and trade issues are also high on the agenda of the China-EU Summit which takes place once a year.

Yu is very confident about the effective and constructive role that the HED will play in this "new age of bilateral trade and economic cooperation". Successful stories for future talks within this framework can come one after another as long as the two sides "build mutual trust, expand cooperation, prioritize key issues and coordinate development". The key is that officials at various levels from both sides make efforts in the way that interests of both sides can be balanced and reflected.

There are plans for more talks on the bilateral economic and trade issues for this year. Yu disclosed that they are preparing for a Director-General level economic and trade working group meeting which will prepare for the Joint Committee at the minister level led by Commerce Minister Chen Deming on the Chinese side and Ms. Ferrero-Waldner, External Relations Commissioner and Mr. Mandelson, Trade Commissioner on the European side.

Related:
Interview: China-EU trade expansion leads to reciprocity
Interview: cooperation prevails in China-EU trade relations
Interview: greener, easier investment to help China-EU trade balance

By People's Daily Online