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MNI BRIEF: EU To Push Fair Trade Relationship With China

MNI (Singapore)
(MNI)Shanghai

The European Union will pursue “free and fair” trade relations with China, but it has no intention to decouple, said Valdis Dombrovskis, executive vice president at the European Commission on Saturday at the 2023 Bund Summit in Shanghai.

“The EU needs to protect itself in situations when its openness is abused,” the EU trade chief said, noting the “unbalance” in the bilateral trade with China due to the €400 billion trade deficit last year.

While calling on China to provide broadened access to its market for foreign companies and maintaining a stable business environment, he pointed out how China tackling its challenges – such as boosting domestic demand, reducing debt, dealing with an aging population and fulfilling climate change pledges – may impact the rest of the world.

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