China and EU Launch Trade and Investment Consultation Mechanism

Beijing (ANTARA) - China and the European Union (EU) confirmed the official establishment of a China-EU trade and investment consultation mechanism after both parties held the first meeting of the mechanism, according to a joint statement released on Tuesday. The two sides identified four initial working areas under the mechanism, which include trade and investment balancing, export controls, intellectual property rights, and World Trade Organization (WTO) reform, the joint statement read. Chinese Commerce Minister Wang Wentao and EU Commissioner for Trade, Economic Security, Interinstitutional Relations and Transparency Maros Sefcovic co-chaired the inaugural meeting of the mechanism on Monday (29/6) in Brussels. According to the statement, both parties held comprehensive, in-depth and constructive discussions on major economic and trade issues. The two sides also agreed to establish a joint monitoring mechanism.