China, EU Exchange Views on New Round of WTO Talks

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Last updated at: (Beijing Time) Thursday, July 24, 2003

China, EU Exchange Views on New Round of WTO Talks

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China's Minister of Commerce Lu Fuyuan and Trade Commissioner of the European Commission Pascal Lamy exchanged views on a wide range of issues relating to the new round of World Trade Organization (WTO) trade talks Wednesday in Dalian of northeast China.

Lu, also chairman of the fifth Economic Ministers Meeting of the ASEM (Asia- Europe Meeting), said China has been playing an active role in the new round because the outcome of "the Doha Round" will have a direct bearing on China's economic growth targets for the next 20 years and because China needs a favorable international economic and trade environment.

Lamy, who is heading the European Union (EU) delegation, briefed Lu on the EU's stance on a number of issues, in particular, on the reform of the EU's common agricultural policy (CAP). Lu responded with suggestions and China's positions on relevant issues.

The new round of WTO talks, launched in November 2001, has made very little progress, with talks on all major issues lagging behind schedule. These issues have become a hot topic as the next WTO ministerial meeting will be held in Cancun, Mexico in September.

China could play important role in WTOLamy made the remarks in an interview with Xinhua while attending the 5th ASEM (Asia-Europe Meeting) Economic Ministers' Meeting (EMM) in Dalian, a port city in northeastern China.

China and Europe can serve as a "bridge" between rich and poor countries, he said, noting China is a good example of a developing country, which is still weighing the benefits of free trade.

China could play an important role in advancing the stalled WTO free trade talks, he said. This year's EMM provides a timely platform for ASEM members to coordinate their positions on the upcoming WTO ministerial meeting, which is scheduled for Sept. 12 in Cancun, Mexico, Lamy said.

Commenting on current Sino-EU trade ties, he said the bilateral trade volume between the two sides has seen a sharp rise in the past few years. China's fast-growing economy will continue to attract investment from the EU, he added.

"These are the decisive factors, and all of them point in the same direction, which is increased trade and investment between China and Europe," he said.

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