Brussels, 23/10/2013 (Agence Europe) - This first session of the dialogue since the new Chinese administration has been in place will prepare the bilateral summit in Beijing on 21-22 November.
The trade friction between the EU and China will be the focus of the agenda for the fourth meeting of the high-level economic and trade dialogue in Brussels on 24 October. The dialogue was set up in 2008. This will be the first meeting of this dialogue since the new Chinese leaders - President Xi Jinping and Prime Minister Li Keqiang - came to the head of the regime at the start of 2013. The dialogue will prepare for the next bilateral summit where the negotiations for an agreement on investment will be formally launched.
As well as trade issues, the parties - under the chairmanship of European Commissioner for Trade Karel De Gucht and European Commissioner for Economic and Financial Affairs Olli Rehn, and of China's Deputy Prime Minister Ma Kai - will address international macro-economic issues, sources of growth, industrial policy and customs cooperation. Seven Chinese ministers will be alongside Ma and European Commissioner for Taxation Algirdas Semeta will also participate in the discussions.
“This meeting will be an important opportunity to discuss how to work better together to identify and diffuse potential areas of friction before they impact on our economic and trade relations”, said De Gucht, ahead of the dialogue. He will ask the Chinese authorities to implement their promise of facilitating consultation between European and Chinese wine producers - as part of the anti-dumping investigation that was launched by Beijing against European wines, and in line with an arrangement following the agreement that was concluded at the end of July on the solar panels file.
Bilateral trade in goods stood at €435 billion in 2012, with the EU then recording a deficit of €122 billion. During the first eight months of 2013, EU exports, amounting to €96.8 billion, remained stable, but its imports, amounting to €181.2 billion, decreased by nearly 6%, which augurs a further decrease in the European deficit in 2013. Trade in services was calculated at €50 billion in 2012, and investment flows remain below their potential - foreign direct investment (FDI) from the EU into China stood at €17.5 billion in 2011 (2% of its total FDI), while FDI from China into the EU stood at €2.8 billion (1% of FDI entering the EU). (EH/transl.fl)