China, EU note importance of dialogue at trade consultation mechanism inaugural meeting

The first meeting of the China-European Union trade and investment consultation mechanism was held in Brussels on Monday, with China's Minister of Commerce Wang Wentao and European Commissioner for Trade and Economic Security and Interinstitutional Relations and Transparency Maros Sefcovic leading the meeting. They agreed to establish a joint monitoring mechanism to exchange relevant data, monitor trade flows and support technical work with a view to improving transparency, enhancing mutual trust and managing trade frictions.

The meeting, held after months of intensive preparatory consultations, saw the two sides having noted the importance of addressing the challenges affecting the bilateral trade relationship and agreed to seek practical solutions, with four initial workstreams under the consultation identified, namely trade and investment balancing, export controls, intellectual property rights, and reform of the World Trade Organization, or WTO.

The two sides took note of positive results achieved to date by the EU-China Export Control Dialogue regarding rare earth elements and other critical materials and minerals, and they intend to strengthen dialogue in this field. They also underlined the necessity of strengthening bilateral cooperation in the WTO, advancing substantive progress on WTO reform, and improving the authority and effectiveness of the WTO.

Bernard Dewit, chairman of the Belgian-Chinese Chamber of Commerce, said that continued engagement between China and the EU creates opportunities to address concerns through dialogue, identify new areas of cooperation such as green transition, digitalization and advanced manufacturing, and strengthen mutual understanding.

"The global business community benefits when major economies choose cooperation over confrontation and work together to address common challenges in a pragmatic and predictable manner," he said.

Jian Junbo, director of the Center for China-Europe Relations at Fudan University's Institute of International Studies, hopes that in their negotiations, the two sides can focus more on one another's concerns, arguing that such a talk can make meaningful progress only if both Brussels and Beijing show ample readiness to address each other's legitimate concerns, instead of echoing just one side's.

For European businesses, preserving communications has become more important than ever because both economies remain deeply intertwined, especially in the manufacturing, investment, and technology sectors. Michael Schumann, chairman of the German Federal Association for Economic Development and Foreign Trade, said: "Europe cannot be (economically) independent from the United States, and it cannot be independent from China. Our economies, technologies, supply chains, and security structures are far too deeply interconnected."

Schumann said enterprises can help to turn political consensus into broader cooperation practices via active business activities.

"Business cannot solve every political question, but business can keep doors open, create practical trust, and show where interests overlap," he said. "Looking ahead, cooperation will remain essential in green energy, electric mobility, batteries, hydrogen, artificial intelligence, industrial automation, health technology, biotechnology, critical raw materials, and modern infrastructure."

Wang and Sefcovic also agreed to meet again at ministerial level in the fall. Schumann added: "I remain confident that, in the upcoming talks and negotiations, Europe and China can find constructive, balanced, and mutually beneficial solutions — if both sides keep dialogue open, respect each other's legitimate interests, and focus on what we can build together."

zhangzhouxiang@chinadaily.com.cn