Trade will pull world out of recession, EU and China say
Brussels - The European Union and China called Friday for a swift conclusion to stalled global trade negotiations as a means of pulling the world out of recession.
"Trade and investment will lead us out of the current crisis. The EU and China therefore stand together today in calling for the swift conclusion of the Doha (Development) Round, which will help us trade our way out of recession," said EU Trade Commissioner Catherine Ashton after talks in Brussels with Chinese Vice-Premier Wang Qishan.
The sides also said it was crucial to stick to the conclusions of a recent Group of 20 meeting in London, in which world leaders vowed to avoid protectionist measures.
No fewer than nine EU commissioners and 12 Chinese government ministers met for two days in Brussels to discuss closer cooperation between two of the world's biggest economies.
The sides also held exchanges on climate change and energy issues, including the low carbon economy, energy efficiency and energy performance standards.
China is Europe's fastest growing export market, with the continent exporting 78.4 billion euros (105 billion dollars) worth of goods to China in 2008.
However, the trade balance remains heavily tipped in the favour of China, which exported 248 billion euros worth of goods to Europe during the same year.
The Doha Development Round is the current trade-negotiation round of the World Trade Organization (WTO). Initiated in late 2001, it aims to lower trade barriers around the world.
The talks have stalled amid divisions between the world's richest nations and major developing countries such as China and India.(dpa)