China, EU agree on a list of 16 points of consensus to stabilize trade ties

(ECNS) -- China and the European Union (EU) have agreed on a list of 16 points of consensus covering trade and investment, export controls, intellectual property rights and World Trade Organization (WTO) reform, reaffirming their commitment to maintaining stable and more balanced bilateral economic and trade ties, according to a joint statement released Friday.

Chinese Minister of Commerce Wang Wentao and European Commissioner for Trade and Economic Security Maros Sefcovic co-chaired the second meeting of the China-EU trade and investment consultation mechanism on Thursday and Friday in Beijing.

The two sides held pragmatic and productive discussions and agreed on a list of outcomes, according to the statement.

They agreed to continue exploring the possibility of reducing tariffs on certain goods within the framework of WTO rules, strengthen communication and cooperation under the trade monitoring mechanism, and make better use of dialogue mechanisms to enhance mutual understanding.

After intensive consultations, China and the EU reached an understanding on trade in hybrid vehicles in a manner consistent with WTO rules. They will also continue procedures concerning companies' price undertakings and reviews in the EU's anti-subsidy case involving Chinese electric vehicles, according to the statement.

China and the EU will maintain dialogue on market access for medical devices. The EU welcomed measures taken by China to expand imports of EU medical devices, including a procurement matchmaking event to be held during the ninth China International Import Expo. China will accelerate the recognition of regionalization for eligible EU member states on the basis of risk assessments.

The two sides also agreed to exchange views on disease prevention and control methods and technologies, and jointly explore ways to lift restrictions on imports into China related to bluetongue disease.

They further agreed to continue technical exchanges on computer reservation systems and consultations on their respective regulatory frameworks for cosmetics and pharmaceuticals, with a view to addressing existing and emerging market access issues. They also agreed to hold a technical dialogue on the EU's Foreign Subsidies Regulation (FSR).

On export controls, China and the EU reaffirmed the need to strengthen dialogue and welcomed closer exchanges on their respective policies, including through policy guidance, business-government exchanges and training programs.

Both sides underscored the importance of improving the predictability and stability of global industrial and supply chains. China will continue to facilitate the processing of export license applications for rare earths and permanent magnets destined for the EU through a "green channel" mechanism. The EU, together with its member states, will continue to facilitate the resolution of key licensing cases involving China in the dual-use sector, according to the statement.

They also discussed the possibility of adopting structural measures to facilitate compliant trade in dual-use items between China and the EU, with a view to addressing concerns in the export control field. Under their export control dialogue mechanism, they reached an understanding on advance notification before listing, greater transparency in listing and delisting procedures, and support for initiating delisting procedures within their respective legal frameworks.

On intellectual property rights, the two sides have begun addressing systemic issues and made progress. They agreed to continue cooperation, set interim goals and focus on effective and fair intellectual property protection and enforcement, as well as greater transparency and predictability. Progress will be monitored through the China-EU intellectual property working group.

China and the EU also agreed to strengthen bilateral communication and cooperation on WTO reform in an open and constructive manner. Both sides pledged to participate in the reform process and discuss all relevant issues with a view to achieving substantive progress.

As key trading partners, China and the EU reaffirmed their commitment to properly handling differences within the framework of WTO rules and maintaining stable and more balanced bilateral economic and trade ties.

They agreed to hold the third meeting of the consultation mechanism in March 2027 and maintain close communication in the meantime, including through a ministerial video conference in January, according to the statement. 

(By Evelyn)