Source: CCTV.com

05-06-2009 21:08

The Sino-EU high-level trade and economic dialogue was launched in Beijing last April. It was agreed that the dialogue would be held annually, with the two sides alternately hosting duties.

The EU is the largest alliance of developed countries, while China is the largest developing country in the world. China-EU trade partnership is considered one of the most important trade relationships in the world. The EU is now China's largest trade partner, and the forth largest source of investment. Meanwhile China is the EU's second largest trading partner.

China's General Administration of Customs says despite the global financial crisis, China-EU bilateral trade hit 425 billion US dollars last year, up by almost 20 percent year-on-year. The two sides' economies are complementary, and it's expected that great potential could be developed in bilateral trade.

The EU's trade official says one of the most important topics of this dialogue is anti-protectionism. The two sides will make efforts to guarantee open markets, therefore urging markets worldwide to be open.

Experts say it's impossible to tide over the current financial crisis with just the two sides' efforts, but cooperation between the two economies is indispensable.

Editor:Yang Jie