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EU to Examine Export Control Policy

Data Analysis 10:05:49AM Dec 22, 2010 Source:SMM

BEIJING, Dec. 22 -- The European Union has agreed to make a compromise on lifting bans on hi-tech exports by setting up a special working team to discuss and address Chinese concerns, said the minister of Commerce.

"China expects the EU to loosen the restrictions on hi-tech exports to strengthen bilateral trade ties," and "we are glad to see the EU has decided to appoint a team to focus on addressing the issue," said Chen Deming, minister of Commerce, at the press briefing of the third China-EU High-level Economic and Trade Dialogue.

"The first round of discussion by the working team of the EU will be held as soon as possible," said Chen.

During the past 11 months, China-EU trade has seen "fairly stable" growth, and bilateral trade by volume from January to November has surpassed 2008's total.

In November, EU exports to China grew by 39 percent from a year earlier, and China has been running a small trade surplus with the EU in the past 11 months.

What has concerned China for so long is the export control set by the EU on hi-tech goods, and experts said China's imports from the EU will grow by big margins if the EU loosened the restrictions.

At the China-US Joint Commission on Commerce and Trade held in Washington last week, China urged the US to loosen restrictions on export control, but the US made little progress on the issue.
 

Key Words:  EU  export  global economy  trade 

EU to Examine Export Control Policy

Data Analysis 10:05:49AM Dec 22, 2010 Source:SMM

BEIJING, Dec. 22 -- The European Union has agreed to make a compromise on lifting bans on hi-tech exports by setting up a special working team to discuss and address Chinese concerns, said the minister of Commerce.

"China expects the EU to loosen the restrictions on hi-tech exports to strengthen bilateral trade ties," and "we are glad to see the EU has decided to appoint a team to focus on addressing the issue," said Chen Deming, minister of Commerce, at the press briefing of the third China-EU High-level Economic and Trade Dialogue.

"The first round of discussion by the working team of the EU will be held as soon as possible," said Chen.

During the past 11 months, China-EU trade has seen "fairly stable" growth, and bilateral trade by volume from January to November has surpassed 2008's total.

In November, EU exports to China grew by 39 percent from a year earlier, and China has been running a small trade surplus with the EU in the past 11 months.

What has concerned China for so long is the export control set by the EU on hi-tech goods, and experts said China's imports from the EU will grow by big margins if the EU loosened the restrictions.

At the China-US Joint Commission on Commerce and Trade held in Washington last week, China urged the US to loosen restrictions on export control, but the US made little progress on the issue.
 

Key Words:  EU  export  global economy  trade