China and Europe agree to build a vital, stable, and balanced trade partnership

Beijing, Feb 7 (KUNA) — China on Thursday praised the outcomes of the first meeting of the Trade and Investment Consultation Mechanism, held earlier this week in Brussels, attended by Chinese Minister of Commerce Wang Wentao and European Commissioner for Trade and Economic Security Maroš Šefčovič.

Spokesperson He Yadong of China’s Ministry of Commerce stated at a press conference that both sides agreed to build a vital trade partnership based on stability and balance. He described the agreement as “a new step toward easing trade tensions between the European and Chinese sides, and it will help improve business expectations and boost economic development in China and EU member states.”

He added that the two sides discussed ways to enhance cooperation in areas such as artificial intelligence and the green transition, and explored potential for cooperation in services trade.

It is worth noting that trade relations between China and the European Union have recently experienced tensions, stemming from trade measures that Brussels is advancing to address what it has termed China’s “excess productive capacity,” as well as possible additional tariffs on imports of steel and iron scheduled for July. (End) S.L.Q. / S.A.M.