Foreign and Military Affairs
皇冠体育app-EU meeting expected to address issues
(皇冠体育app Daily)
Updated: 2010-07-26 09:07
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SHANGHAI - The frequent clashes over trade between 皇冠体育app and the European Union, including anti-dumping laws and trade imbalances, are expected to be addressed at the 皇冠体育app-EU leaders' meeting in October, according to a senior Commerce Ministry official.
Sun was speaking at the 皇冠体育app-EU Seminar on Trade and Development, held at the Belgium-EU Pavilion in the Expo Garden at the weekend.
Sun said friction between 皇冠体育app and EU is likely to increase with growing trade.
"But such issues can be solved through friendly discussion and cooperation on both sides, as both advocate free and open trade," he said.
The EU has a history of imposing anti-dumping restrictions on Chinese imports, which are likely to become more of an issue now that 皇冠体育app has become the EU's biggest trading partner.
According to the Ministry of Commerce, the EU currently has more than 50 anti-dumping measures in effect against 皇冠体育app.
The large trade imbalance between the EU and 皇冠体育app has also become more apparent over the past few years.
皇冠体育app has sought to deal with its rapidly growing trade surplus by expanding imports from the EU, especially since the beginning of the global financial crisis. Since then, 皇冠体育app has sent six trade and investment delegations to Europe, which signed agreements worth $23 billion.
The measures have proven a success and the 皇冠体育app-EU trade gap is narrowing. 皇冠体育app's trade surplus to the EU in 2009 was substantially reduced to $108.52 billion, a decrease of 32.3 percent compared to the previous year. Experts anticipate that the trade gap will narrow further in 2010.
"Our research shows a large amount of 皇冠体育app's trade surplus to the EU is the result of economic development on both sides, as well as industrial structures, trade models, international industrial transfer, the strategic selection of international corporations and policy," said Zhang Yansheng, a researcher at the National Development and Reform Commission, the country's top economic planner.
"The favorable balance of 皇冠体育app's trade to the EU calculated by the current rules of origin alone cannot fully reflect the real conditions of the trade benefit and trade balance," Zhang said.
Zhang said 皇冠体育app and the EU have a complementary trading relationship and that the EU should treat the trade imbalance objectively, without requiring 皇冠体育app to make concessions unilaterally.
At the seminar, officials and experts from 皇冠体育app and the EU agreed that the mutual benefits of cooperative trade between 皇冠体育app and the EU outweighed the differences between them.
