Source: CCTV.com
05-08-2009 10:54
Special Report: EU-China HEDChina and the European Union should stand firm against protectionism for the sake of a global recovery. Vice-Premier Wang Qishan made the appeal at the opening in Brussels of the China-EU economic and trade dialogue.
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| China and the European Union should stand firm against protectionism for the sake of a global recovery. |
Following its first meeting in Beijing a year ago, the high-level China-EU economic and trade dialogue is now under way in Brussels, where the EU is headquartered.
The dialogue brings together key policy makers from both sides, including Chinese Vice Premier Wang Qishan, and EU Trade Commissioner Catherine Ashton.
The EU is China's largest trading partner. Meanwhile, China is the second largest trading partner of the EU.
China's customs authorities say trade volume between the two sides grew to over 425 billion US dollars in 2008. That's an increase of nearly 20 percent over the previous year, despite the financial crisis.
To continue along this upward trend, Wang Qishan says China and the EU have every reason to avoid protectionism.
He warned that protectionism would make the crisis even worse. He noted that trade protectionism during the Great Depression in the 1930's led to a two-thirds contraction in global trade.
EU Trade Commissioner Catherine Ashton, co-chairing the dialogue with Wang Qishan, said the EU would remain committed to free trade.
The China-EU economic and trade dialogue is scheduled to last two days.
Among the major topics under discussion are trade, investment, small and medium-sized companies, customs cooperation and sustainable development.
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Editor:Qin Yongjing
