China and the EU will uphold the rules-based international economic and trade order and are committed to the liberalization of trade and investment, said a spokesperson of the Ministry of Commerce (MOFCOM) on Thursday. 

Photo: Global Times

The 7th China-EU High-level Economic and Trade Dialogue ended with China and EU agreeing to seek exchange bids for market access lists during the 20th China-EU Summit, Gao Feng, a spokesperson for MOFCOM told a regular press conference in Beijing. 

As China and EU complete the exchange of bids lists, negotiations on an investments agreement will enter a new stage, Gao noted. 

China will continue to uphold an open, flexible and pragmatic attitude and actively promote negotiations to make greater progress, Gao stressed. 

We believe that reaching a comprehensive and ambitious investment agreement at an early date conforms with the common interests of both sides, sending a positive signal to the world, Gao added. 

Gao added that during the 7th China-EU High-level Economic and Trade Dialogue, both sides reached a series of consensus, including improving global economic governance, maintaining the multilateral trading system, enhancing the liberalization and facilitation of trade and investment, and strengthening cooperation in digital economy, e-commerce, circular economy, prevention of white pollution, response to challenges in climate change, agriculture, and finance.

“Both sides share the view that we must resolutely oppose unilateralism and trade protectionism, prevent the impact that such actions may have on the world economy and the recessionary effects. We are committed to jointly safeguarding the WTO-based, rules-based multilateral trading system. China and EU will promote economic globalization that is more open, inclusive, inclusive, balanced, and mutually beneficial” Gao stressed. 

Meanwhile, Gao also commented on the 2017 annual report on trade and investment barriers released by the European Commission, which stated that China is still one of the countries with the most access restrictions and trade barriers to the European market.

“We have taken note of the report of the European Commission and are conducting a detailed evaluation. From a preliminary perspective, the conclusion in the report on China is biased. In terms of market access and eliminating barriers, China and the EU have their own agenda. The two sides conducted in-depth discussions on this issue,” Gao said.

China will continue to further open up to the world and promote the liberalization and facilitation of trade and investments. We hope that China and the EU can work together to continuously expand mutual exchanges and jointly build an open world economy, he said.