EU Trade Commissioner Peter Mandelson said Monday in Beijing that the EU respects and pursues the principle of free trade through engagement in the international cooperation.

When addressing the EU-China Business Summit, Mandelson said that during the process this June which led to the Shanghai agreement on textile trade, both China and the EU dealt with the problem cooperatively and constructively.

It proves that China is a responsible and valuable partner, he said.

Mandelson said that free trade has lifted millions out of poverty in the world, and it will do the same in Asia. He believes that China and the European Union (EU) will end their textile trade problem in a spirit of dialogue.

China and EU's disputes over textile trade are just a beginning. It is a normal occurrence between big trading partners, he said.

Source: Xinhua