The European Union (EU) is committed to working with China, in the framework of strategic partnership, to achieve mutually beneficial relations that will last for generations to come, said visiting European Commission (EC) President Romano Prodi in Shanghai Thursday.

Prodi made the remark in an address at the China-Europe International Business School, which was jointly founded by the Chinese government and the EU 10 years ago.

China will "play its full part in ensuring that the global economic order develops in a stable and balanced way as it emergesas a major player on the global economic scene," said Prodi in a speech on Europe's economic ties with China.

Impressed by the fact that China has managed to quintuple its GDP within 20 years, Prodi said that China is expected to act as abig and responsible player in the years to come.

The EU is currently China's third biggest trade partner and itsexports to China rose in 2003 by around 40 percent compared with the previous year, said the EC chief, adding that the investment in China by European companies has increased dramatically, only marginally lower than that of US companies now.

"There is clearly a need to increase bilateral contacts on economic and financial issues", said Prodi. "Thus the first step is to improve our mutual understanding of the key policy issues and foster experience sharing."

Prodi said China's entry into the WTO is a largely positive development, marking a turning point in the international trading system and EU-China trade relations, and China has achieved a lot since its accession.

The EU has profound interest in seeing a stable, prosperous andopen China, Prodi said.

Prodi arrived in Beijing Tuesday, starting his four-day official visit to China.

Source: Xinhua