BEIJING: China and the European Union (EU) reached a 16-point consensus spanning trade and investment, export controls, intellectual property rights and World Trade Organization (WTO) reform at high-level talks in Beijing on Thursday and Friday, marking tangible progress in efforts to manage bilateral differences even as protectionist pressure continued to build within Europe.
The outcomes included an understanding on hybrid vehicle trade, measures to facilitate rare-earth export licensing and further discussions on market access and trade barriers, according to a joint statement released by China’s Ministry of Commerce (MOFCOM) on Friday.
Chinese Commerce Minister Wang Wentao and European Commissioner for Trade and Economic Security Maros Sefcovic held the second meeting of the China-EU trade and investment consultation (TIC) mechanism on October 8-9, engaging in pragmatic and productive discussions, according to the joint statement.
Both sides reaffirmed their commitment as key trading partners to properly managing differences under WTO rules, maintaining stable bilateral economic and trade ties and making them more balanced.
They agreed to hold the third meeting in March 2027 and maintain close communication in the meantime, including a ministerial-level video meeting in January.
The exchanges have drawn widespread attention, coming at a critical juncture for China-EU economic ties and just days before an October 15 to 16 EU summit in Brussels, where the bloc’s trade relations with China are expected to feature prominently.
Chinese analysts said the agreement underscored the value of institutionalized dialogue in managing disputes, while offering a path toward common solutions and bringing greater predictability for future economic ties. They also urged the EU to follow through on the consensus in good faith and avoid allowing protectionist pressures to undermine the progress made through dialogue. –The Daily Mail-Global Times news exchange item
