China wants free-trade agreement with EU

China's top diplomat says China and EU should work jointly to create conditions for launching a feasibility study of China-EU free-trade agreement (FTA).

China wants free-trade agreement with EU
World Bulletin / News Desk

China's State Councilor says Beijing and the European Union should work jointly to create conditions for launching a feasibility study of a China-EU free-trade agreement (FTA).
 
“There are bright hopes for China-EU business cooperation,” Yang Jiechi told reporters Monday after meeting EU foreign policy chief Catherine Ashton in the Belgium capital Brussels.

The United States is the EU's largest trading partner, followed by China.

China-EU trade is worth over $1.37 billion a day, reaching $593 billion in 2012, according to the EU’s Trade Commission.

The prime minister of EU member country Britain said during a visit to China in December that he was a strong advocate of an FTA with China.

David Cameron estimated that the FTA “could be worth tens of billions of dollars every year” and boost the UK economy alone by $2.98 billion per year.

The relationship, however, has not always been so agreeable.

In 2013, the European Union accused Chinese firms of dumping solar panels, and threatened to add duties to these products.

The Chinese government retaliated by opening investigations into EU wine exports.

Chinese President Xi Jinping will visit Brussels in March.
Last Mod: 28 Ocak 2014, 13:53
Add Comment