The Chinese commerce and EU trade chiefs have held focused,candid,and in-depth discussions in early June in Paris on urgent and important issues,including the EU's anti-subsidy probe into Chinese electric vehicles(EVs),China's anti-dumping probe into EU brandy,and export controls,China's Ministry of Commerce(MOFCOM)said Saturday.
Noticeably,the EV price commitment negotiations between China and the EU have entered the final stage,while Chinese authorities are reviewing the EU brandy price commitment text and scheduled to make final ruling before July 5.In addition,the Chinese official said in the meeting that China is willing to establish a green channel for eligible applications from the EU to accelerate rare-earth export approvals,according to the MOFCOM.
An expert described the series of latest progress on key issues between China and the EU as a positive and meaningful step toward establishing long-term solutions for both sides.
According to a statement published on MOFCOM's website on Saturday,Chinese Commerce Minister Wang Wentao met with EU Commissioner for Trade and Economic Security Maros Sefcovic in France on June 3,during which they discussed key issues including EU's anti-subsidy probe into Chinese EVs,China's anti-dumping probe into EU brandy,and export controls.
The scheduled meeting was first reported by the Global Times in late May,citing a source familiar with the matter.
During the meeting,both sides called on their working teams to intensify efforts in preparing for this year's major China-EU economic and trade agenda,according to the MOFCOM on Saturday.
Regarding the EV case,the EV price commitment negotiations over a potential price commitment between China and the EU have entered the final stage,although further efforts are still needed from both sides.The EU side proposed exploring new technical approaches in parallel,and the Chinese side will evaluate the feasibility of these proposals from both legal and technical perspectives.
Both sides instructed their working teams to step up efforts to find a mutually acceptable solution in a way that complies with their respective legal regulations and WTO rules to properly resolve the trade dispute,according to the MOFCOM spokesperson.
During the meeting,Minister Wang Wentao elaborated on China's export control policies to the EU,emphasizing that such controls on rare earths and other items align with international norms.China values the EU's concerns and is willing to establish a green channel for eligible applications to accelerate approvals,while instructing working-level teams to maintain timely communication,according to the MOFCOM
Wang also expressed hope that the EU would meet China halfway by taking concrete measures to facilitate,safeguard,and promote the lawful trade of high-tech products with China,the spokesperson said.
As for the anti-dumping case on EU brandy,Wang also briefed the French side of the relevant progress.Currently,French companies and relevant associations have proactively submitted price commitment applications to the Chinese side,and Chinese authorities have reached agreement with them on the core terms.The Chinese side is reviewing the complete text of the price commitment.If the review is passed,a final ruling announcement containing the price commitment text will be scheduled to be released before July 5.
"It's a good start that both sides discussed their main trade concerns and aimed to solve them through a package discussion.This is significant as it allows them to explore a comprehensive approach rather than handling issues individually,"Cui Hongjian,director of the Department of European Studies at the China Institute of International Studies,told the Global Times on Saturday."Through this,the two sides are actually jointly working on establishing some rules acceptable to both."
Cui further pointed out that both sides need to craft a package solution based on the changes in economic and trade structure between China and the EU,their respective development goals,and the common economic challenges they face.
"The package solution not only addresses current issues but,more importantly,helps the two sides build lasting consensus,establish new rules for resolving economic and trade issues,and enhance economic cooperation,"Cui noted.
