2023-09-23 14:46:16
In a tense economic context, particularly around electric cars, the European Commissioner for Trade is in China for four days.
In Shanghai, Valdis Dombrovskis, the Union’s trade commissioner, stressed that a number of shocks, notably the pandemic, the war in Ukraine and Sino-American tensions, have revealed the fragility of the global economy.
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Valdis Dombrovskis regretted the EU’s trade deficit with China, almost 400 billion euros per year. The EU’s interests must be protected, he added.
“Our long-term interest is to embrace reforms and remain open to international cooperation, said Valdis Dombrovskis, European Commissioner for Trade. Here we see China as an important partner. A partner the EU wants to work with towards a more balanced trade and investment relationship.”
The EU’s recent strategy aims to maximize the benefits of opening up while reducing the risks, he explained. The EU has “no intention of dissociating itself from China” and has called on Beijing to expand access to foreign companies.
Valdis Dombrovskis then goes to Beijing for high-level discussions: they will undoubtedly be difficult as the EU investigates the subsidies that China gives to electric vehicle manufacturers, which creates concerns among European companies who fear fierce competition and much lower Chinese prices.
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