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EU China chamber declares EU-China trade is still best bet
来源：Shipping News Headlines 编辑：编辑部 发布：2021/02/26 10:28:36
THE president of the EU's Chamber of Commerce in China (EUCCC), Joerg Wuttke, has declared that the opening of the services sector and other pro-trade measures could help EU businesses and Chinese enterprises further expand their growth, reports Beijing's Global Times.
Mr Wuttke reacted to an EU statistical office Eurostat's announcement that China overtook the US as the EU's top trading partner for the time in 2020.
EU's imports from China in 2020 jumped 5.6 per cent year on year to US$463 billion, while exports grew 2.2 per cent to $246.36 billion. Meanwhile, the EU's trade with the US saw a tangible decline in both directions.
"We need to keep in mind that the US remains the EU's number one trading partner when you include services," said Mr Wuttke.
"The current headwinds include decoupling dynamics, politicised trade, import bans, and export controls. Although the underlying economic forces for trade between the EU and China remain strong, we cannot take it for granted that it will continue to be that way indefinitely," said Mr Wuttke.
In December of 2020, China and the EU concluded their seven-year negotiations on a Comprehensive Agreement on Investment (CAI).
"If ratification can be achieved, we hope that there will be the political will to go beyond the implementation of the agreement as it stands, and to continue reforming the Chinese economy to benefit not only EU businesses but also competitive and innovative Chinese private enterprises," said Mr Wuttke.
"The current situation could act as the EU's 'Sputnik moment'. Obviously, the focus should not be Moon-bound endeavours, but artificial intelligence, biotechnology, and information and communication technology. After all, the EU is still an engineering superpower," said Mr Wuttke.
Mr Wuttke reacted to an EU statistical office Eurostat's announcement that China overtook the US as the EU's top trading partner for the time in 2020.
EU's imports from China in 2020 jumped 5.6 per cent year on year to US$463 billion, while exports grew 2.2 per cent to $246.36 billion. Meanwhile, the EU's trade with the US saw a tangible decline in both directions.
"We need to keep in mind that the US remains the EU's number one trading partner when you include services," said Mr Wuttke.
"The current headwinds include decoupling dynamics, politicised trade, import bans, and export controls. Although the underlying economic forces for trade between the EU and China remain strong, we cannot take it for granted that it will continue to be that way indefinitely," said Mr Wuttke.
In December of 2020, China and the EU concluded their seven-year negotiations on a Comprehensive Agreement on Investment (CAI).
"If ratification can be achieved, we hope that there will be the political will to go beyond the implementation of the agreement as it stands, and to continue reforming the Chinese economy to benefit not only EU businesses but also competitive and innovative Chinese private enterprises," said Mr Wuttke.
"The current situation could act as the EU's 'Sputnik moment'. Obviously, the focus should not be Moon-bound endeavours, but artificial intelligence, biotechnology, and information and communication technology. After all, the EU is still an engineering superpower," said Mr Wuttke.