Brussels/Beijing, 20 July 2022 (TDI): Valdis Dombrovskis, Executive Vice-President of the EU Commission, and Liu He, Vice Premier of China discussed the 9th High-Level Economic and Trade Dialogue (HED), in a virtual meeting.
As major economies, EU & China have a duty to address global challenges, including those arising from Covid-19 & war in Ukraine.
We work as partners on #SustainableFinance & climate change mitigation.
More from 9th #EUChina Economic & Trade Dialogue 👉https://t.co/hUVjvBpmut pic.twitter.com/WuqQ5ki3V1
— Valdis Dombrovskis (@VDombrovskis) July 19, 2022
The EU stressed working together with China to address the challenges caused by the Russian invasion of Ukraine.
Along with it, the EU also acknowledged China’s willingness to jointly work on the stability of global markets as well as tackle global food insecurity.
Apart from this, the leaders also welcomed the positive outcomes of the World Trade Organization’s (WTO) 12th Ministerial Conference. They agreed to work jointly on the WTO forum.
Both the parties agreed on the need to prevent disruptions caused in the supply chain. Likewise, they also discussed increasing transparency and exchanging information on the supply of certain raw materials.
The European Union also offered further cooperation regarding COVID-19. It also encouraged China to review the “Circuit Breaker policy” as it restricts air operations between the EU and China.
Remarks by EU Vice-President
Valdis Dombrovskis, Executive Vice-President and Commissioner for Trade said: “The EU and China are key trading partners. The importance of our economies comes with a responsibility to shape joint responses to global economic and trade challenges.
The challenges such as disruptions in supply chains, global food insecurity, debt relief for the most vulnerable countries, and reform of the World Trade Organization.
I emphasized that Russia’s war of aggression against Ukraine is creating considerable challenges for global security and the economy.
I also underlined the need for continued engagement to build more balanced and reciprocal trade and investment relations between the EU and China.” Both the parties agreed to hold the next High-level Trade and Economic Dialogue (HED) in 2023.
EU-China Relations
Recently, in April, the EU and China held a virtual summit to discuss Ukrainian Crisis. They agreed that restoring Stability in Ukraine is a shared responsibility.
Furthermore, both parties are committed to open trade relations. In 2020, they concluded the negotiations on the Comprehensive Agreement on Investment (CAI). When ratified, it will grant EU investors access to China’s market.
Senior year student of International Relations at Kinnaird College.
