Minister of Commerce Wang Wentao and European Commission Commissioner for Trade and Economic Security Maros Sefcovic co-chaired the second regular meeting of the China-EU Trade and Investment Consultation Mechanism in Beijing on October 8-9 and issued a joint statement.
Guided by the positioning of "stable and balanced key trade partners between China and the EU," the two sides reviewed progress made under the mechanism's four working areas since the first meeting: trade and investment balance, export controls, intellectual property rights, and WTO reform. They also held equal, professional, and constructive discussions on key China-EU economic and trade issues.
Both sides agreed to continue communication and consultation on market access issues, gradually push for the resolution of mutual concerns including medical devices, agri-food products, and inverter financing bans, and continuously promote upward balance in China-EU trade.
The two sides agreed to further strengthen the China-EU export control dialogue mechanism, continue enhancing policy communication, push for the resolution of mutual case-specific concerns, and study the possibility of introducing facilitation measures. They also agreed to conduct technical dialogue on the EU's Foreign Subsidies Regulation (FSR), and continue to strengthen exchanges and cooperation on intellectual property protection and WTO reform. Both sides agreed to explore investment and future-oriented cooperation.
Wang Wentao expressed concern over the EU's recent trade-restrictive measures, reiterating that China is not the source of the EU's problems but rather a partner in solving them. He urged the European side to work with China in the same direction, properly handle frictions and differences through dialogue and consultation in accordance with WTO rules and while accommodating each other's interests, explore new cooperation opportunities and expand new space, and contribute China-EU strength to promoting international economic growth and the security and stability of global industrial and supply chains.
Sefcovic said that China is an important economic and trade partner of the EU, and that the EU is willing to work with China under the EU-China trade and investment consultation mechanism to strengthen communication and exchanges, manage frictions and differences through dialogue and consultation, jointly seek constructive solutions, and promote more balanced and stable development of EU-China economic and trade relations.
Both sides agreed that the second regular meeting marks a new starting point for deepening China-EU cooperation. They instructed their working teams to continue advancing follow-up work, push for the early implementation of relevant outcomes and consensus, and prepare for the third regular meeting of the China-EU Trade and Investment Consultation Mechanism.
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