China-EU economic and trade ties draw closer and closer

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Last updated at: (Beijing Time) Tuesday, March 30, 2004

China-EU economic and trade ties draw closer and closer

While the smile of EU trade commissioner Pascal Lamy is still lingering in Chinese people's minds, Franz Fischler, EU Commissioner for Agriculture, Rural Development and Fishery arrived in Beijing at Lamy's heels, leading a promotion delegation of 25 senior EU business leaders. Coming together with the delegation are such traditional European foodstuffs as wine from Italy and France, biscuit from Denmark, chocolate from Belgium and olive oil from Spain.

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China-EU economic and trade links strengthened

A seminar on attracting foreign funds in agricultural field between China and EU was held in Beijing March 26 present at which were Commerce minister Bo Xilai and Franz Fischler.

Addressing the meeting, Bo said that China-EU economic and trade ties have been developing continuously in recent years, with the bilateral trade volume reaching 125.2 billion US dollars last year and EU becoming China's third largest trade partner. China pays high attention to conducting cooperation with EU in many fields including agriculture, hoping Chinese and European governments as well as business leaders could further promote trade ties by strengthening communication, reaching consensus and solving problems of common concern. In a few years to come the Chinese economy will keep a momentum of sustained, rapid and sound growth, and it can be predicted that there will be huge potential market for Chinese farm produce.

In China's process of opening to the outside world and participating in overall international economic cooperation, Bo said, the government will encourage enterprises to cooperate with more foreign suppliers, further expand import and, through which, to push forward economic structure adjustment. EU is welcome to take part in competition on Chinese market with their quality commodities, and China also hopes EU to further open to Chinese goods to achieve mutual benefits.

Speaking of the import of mushroom and garlic, Fischler said, "the expansion of the EU has brought huge opportunities to China. Just like other kinds of tariffs, the average tariff for farm produce of our new members will be lowered. I'm very clear that the import of mushroom and garlic is the most concerned issue of China. I'm convinced that a proper solution will be found out through negotiations in line with the WTO rules".

Push forward the "Doha round" negotiations

Fischler stressed at a press conference held on the afternoon of March 26, "China's important role in the WTO is to push forward the 'Doha round' negotiations. For China the return will be huge. The EU side has agreed to make farm produce market much more accessible, reduce supportive measures that disrupt trade and cancel export subsidies in various forms. I fully appreciate the big concessions China made in order to join the WTO. We must show flexibility so as to reach a good agreement. China only needs to "pay" a little bit in advance in the Doha round for a return of huge profits from liberalized farm produce trade".

"Our reform will lead to a 70-percent cut-off from our farm produce subsidies that disrupt trade", Fischler added, "before 2013 agricultural subsidies will be slashed by half in EU's budget expenditure. This kind of subsidy support is not pegged with the output volume. Therefore, it will not affect China's farm produce trade". Last year, EU agreed on the biggest agricultural trade reform in history, in an attempt to set up a system better facilitating trade, bring better return to European tax-payers and consumers and drive EU's farm produce by market demand instead of by subsidies.

"I also come for promoting 'good European tastes", Fischler said at last, "for we want to show Chinese consumers various kinds of high-quality food and drinks supplied by Europe. There is huge food trade potentials between China and EU, which needs to be further tapped. Our visit this time will further our trade ties and offer new business opportunities for European enterprise representatives who have excellent food and drinks".

By People's Daily Online

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