en.Wedoany.com Reported - On June 29, Chinese Minister of Commerce Wang Wentao and European Commissioner for Trade and Economic Security Maroš Šefčovič held the first meeting of the China-EU Trade and Investment Consultation Mechanism in Brussels and issued a joint statement.
As key trading partners, China and the EU agreed that the main purpose of the China-EU Trade and Investment Consultation Mechanism is to strengthen ministerial-level trade and investment policy dialogue in order to stabilize bilateral relations and make them more balanced.
During the first meeting of the China-EU Trade and Investment Consultation Mechanism, both sides noted the importance of properly addressing challenges affecting bilateral economic and trade relations and agreed to seek practical and feasible solutions. The mechanism initially established four working areas: trade and investment balance, export controls, intellectual property rights, and WTO reform.
Minister Wang Wentao and Commissioner Šefčovič authorized officials to maintain communication on the four working areas and agreed to hold another ministerial meeting in the autumn of 2026.
During the meeting, both sides agreed to establish a joint monitoring mechanism to exchange trade data, monitor trade flows, and carry out relevant technical work to enhance transparency, increase mutual trust, and manage trade frictions.
Both sides also agreed that expanding market access helps balance trade relations. They discussed possible tariff or non-tariff measures to this end, exchanged lists of market access issues, and agreed to continue consultations under the trade and investment balance working area with a view to making progress on specific issues.
The two sides noted that the China-EU Export Control Dialogue has achieved positive results regarding rare earths, other critical raw materials, and minerals, and expressed willingness to strengthen dialogue in this area. They discussed the value of continuing to exchange information on their respective regulatory frameworks and licensing policies. Both sides recognized the need to strengthen the export control dialogue and agreed to take further facilitation measures to maintain the stability of global industrial and supply chains.
China and the EU emphasized the need to strengthen cooperation within the WTO, promote substantial progress in WTO reform, and enhance the authority and effectiveness of the WTO. Both sides agreed to further strengthen communication and cooperation within the WTO.
The two sides acknowledged that the constructive exchanges of the China-EU Intellectual Property Working Group serve as the main channel for technical-level discussions on intellectual property between China and the EU. They discussed and agreed to address a series of systemic intellectual property issues to improve the efficiency, fairness, and transparency of intellectual property protection and enforcement.
