China-EU trade challenged by EU debt crisis

08:35, December 22, 2010      

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Whether the European debt crisis gets under control would decide the prospects and stability of China-EU trade, said the minister of commerce.

"China also expects to join hands with the EU to advance the Doha Round talks for more improvement of bilateral trade growth," said Chen Deming, minister of commerce, at the press briefing of the third China-EU High-level Economic and Trade Dialogue in Beijing.

"China-EU trade is fundamentally healthy and balanced, but bilateral trade will be challenged by the uncertainties of the European economy," said Chen.

China is the largest trade partner and the second largest exporting nation for the EU. But the EU has been more aggressive about taking trade protectionism against China, while the debt crisis is set to be spreading. According to the Ministry of Commerce, during the first 10 months of this year, the EU initiated 10 trade remedy cases against China, outnumbering the total for 2009, and the value involved in the 10 cases was $4.74 billion, 5.5 times the total last year.

The latest case by the EU is against China's data card, which is the largest ever against Chinese exports by value worldwide.

"China is much concerned about the case, and is appealing to the EU to withdraw the case," said Chen.

Source: China Daily
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