China to further consultation on coke trade with EU

The Chinese Ministry of Commerce (MOC) said in Beijing Monday that China would further consultation with the European Union on coke trade after one deal had been made to avoid trade conflict.

The MOC press office said that the newly-forged agreement was in line with the World Trade Organization rules, in the interest of other concerned sides and satisfied the European Union and China as well.

According to the agreement, China will export at least 4.5 million tons of coke to the European Union in 2004, no less than that in 2003 and the two sides have reached consensus on export licenses, said a press release from the EU Commission.

"The two sides feel delighted to find a friendly and effective solution to the problem," said the MOC press office. The EU side once threatened to raise such question to the World Trade Organization.

Coke, a major basic material for steel industry, is in great demand on international and Chinese markets while the world economy recovers and the Chinese steel industry heats up. China isa leading supplier of coke for the EU industry.

Source: Xinhua