EU Hopes to Cooperate with China in Trade and Investment

Anchor: The EU trade commissioner Catherine Ashton has announced her desire to build a strategic partnership with China that can translate into practical action to solve trade and investment problems shared by the two sides.

Ashton announced her ambitions for EU-China trade relations Thursday as she wrapped up her first visit to China. Wang Ling has more.

Baroness Ashton described her experience about her very first trip to China as being everything she expected and more. Apart from finding the country bigger and much more beautiful than she was expecting, Ashton said she recognized a strong relationship that the European Union and China can build on.

"I came here because I recognized the importance of the relationship between the European Union and China on trade and investment. The message I carry is the huge responsibility in Europe and in China to make sure that we not only get out of recession but also stay out of recession. And the engine of economic recovery is trade and investment."

Trading relations between China and the EU, however, have gone off the rails since late July when the EU launched a series of anti-dumping actions against Chinese products, including a number of steel products. Yet Ashton was optimistic about the future of bilateral ties, saying the vast majority of the EU's trade with China is working well.

"I'm very clear that the vast majority, 99% of EU's trade with China, is working effectively. 1% of our trade creates what we might call friction. And we need continue to develop the partnership strategically in order to be able to trade 100 percent perfectly."

Ashton said there are real problems and perceived problems that prevent, delay and hinder businesses from investing and trading between the European Union and China. However, she believed it is in the interest of the two sides to work out solutions to these problems.

"To encourage trade and investment for the short and long term, we need make sure that we give confidence that is good to invest in Europe and it is good to invest in China. So it is important to be able to talk very openly and practically about what the problems business and investors face and solve them. And it is not always easy but it is in strength between us that we are able to do that."

Ashton said she was happy about her meetings with Chinese vice premier Wang Qishan and Minister of Commerce, Chen Deming earlier during her visit, which help initiate practical discussions.

Wang Ling CRI news.