EU/China Joint Committee: extracts from the joint press briefing by Karel De Gucht and Chen Deming, Chinese Minister for Trade

Type: Summary of press conference   Reference: I-073508   Duration: 10:02:20  Lieu:
End production: 31/05/2012   First transmission: 31/05/2012
On 31 May 2012, following their third EU-China Joint Committee, Karel De Gucht, Member of the EC in charge of Trade, and Chen Deming, Chinese Minister for Trade, held a press point. They focussed on negotiations over direct investments in China and Europe. They raised the necessity to establish a legal framework for business between both sides. Chen Deming explained China is really interested in European high technology and pledges to buy more form Europe to make the trade more balanced. EU-China trade has increased dramatically in recent years. China is now the EU's 2nd trading partner behind the USA and the EU's biggest source of imports by far. The EU is also China's biggest trading partner.

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
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TIME DESCRIPTION DURATION
10:00:00 Title 00:00:05
10:00:05 Pannel of the EU-China Joint Committee 00:00:05
10:00:10 General view of the press room with Chen Deming, Chinese Minister for Trade, and Karel De Gucht, Member of the EC in charge of Trade 00:00:06
10:00:17 Soundbite by Karel De Gucht (in ENGLISH): We discussed trying to push forward our talks on investments. As you know, we agreed on the EU-China summit last year to begin the preparation for negotiations over investment protection market access. I believe that the time is right for both sides to step up our efforts to launch negotiations as soon as possible. We are doing so and I have learnt this afternoon that the same kind of effort is made on the Chinese side. 00:00:29
10:00:47 Cutaway of journalists 00:00:04
10:00:51 Soundbite by Chen Deming (in MANDARIN) saying that China wants to see more high technology exports from EU to China. They will keep the openness of the government procurement measures. And they will exercise restrain in the EU. China also pledges to buy more form Europe to make our trade more balanced. They also stressed the importance of trade and services to their economies and they are willing to promote trade and services between the two sides. 00:00:31
10:01:23 Cutaway of journalists 00:00:06
10:01:29 Soundbite by Karel De Gucht (in ENGLISH): We are very open to Chinese investments. It can be that sensitivity is different form one State to another but the official line and also the official practice is that Chinese investments are welcome in Europe 00:00:19
10:01:48 Cutaway of the audience 00:00:05
10:01:53 Soundbite by Chen Deming (in MANDARIN) saying that Chinese investments in Europe are still at the early stage but, given the very strong technology that Europe has, Chinese companies are very interested in increasing their investment efforts in this part of the world. They would like to combine the European advantages of technology with the Chinese advantages of manufacturing. 00:00:26
10:02:20 Speakers leaving the press point 00:00:05
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