The EU-China Joint Economic and Trade Committee, which was held on September 23rd, covered a wide range of topics, including trade in goods and services, Intellectual Property Rights, sustainable development and trade, and investment. During the Joint Committee the two sides agreed on a number of points of consensus to overcome hurdles in the EU-China trade relationship.

The EU-China Joint Economic and Trade Committee was established in 1985 through the Trade and Economic Cooperation Agreement between the EU and China, in order to promote trade and economic cooperation. The Joint Committee meets annually, the venue alternating between EU and China.

This year's meeting was co-chaired by EU Trade Commissioner Peter Mandelson and Commerce Minister Chen Deming. After the meeting, Commissioner Mandelson stressed that this meeting has helped to “progress in identifying new trade opportunities, breaking down barriers and keeping solid Investment flowing both ways. There is still some work to be done. Isolation and protectionism will not solve the economic problems we face.”

Some of the significant points from the EU-China Joint Economic and Trade Committee meeting included:

• Business cooperation: Encouraging both sides companies to conclude agreements, such as the technology transfer licence agreement was reached between a European telecommunication equipment manufacturer and its Chinese counterpart.
• Trade in agricultural products: The two sides agreed to speed up agreement on the safety conditions for European exports of fruit and pork to China (so-called Sanitary and Phytosanitary (SPS) protocols).
• IPR: The two sides sought to conclude an IPR Customs Enforcement Action Plan to be signed at the EU-China Summit in December. There was also a commitment to work on resolving issues addressed in the EU-China working group on online piracy.
• Geographical Indications: Both sides agreed to prepare, by means of a study, the negotiations for an agreement on Geographical Indications.
• Cosmetics: China agreed to accelerate the process of revising and streamlining cosmetics standards.
• Pharmaceuticals: Concerning the imports of Active Pharmaceutical Ingredients (API) into China, China agreed to consult interested parties (including EU industry) on ways of reducing the cost of importing these products.
• The two sides agreed to continue work on green initiatives and identify concrete measures and projects, including on the low-carbon economy, Clean Development Mechanism (CDM) and environmental goods and technologies.

EU and China Bilateral Trade Relations

China is the single most important challenge for EU trade policy. Barriers 'behind the border' in the Chinese market are costing European businesses more than EUR20 billion every year in lost exports. China has re-emerged as the world's fourth economy and third exporter, but also an increasingly important political power. EU-China trade has increased dramatically in recent years and now totals over EUR 300 billion. China is now the EU's 2nd trading partner behind the USA and the biggest source of imports. The EU is China's biggest trading partner.

The 3rd Meeting of the China-EU Round Table, held in Beijing in June, also addressed some of the issues regarding bilateral relations, such as Trade and Investments and Corporate Social Responsibility.