Friday, November 27, 2009

Today ~ EU Prepares for meetings with China - Finance discussion 28th-30th

~snip

"EU prepares slew of meetings with China"

Bilateral relations, financial crisis

Discussion will also focus on the current state of EU-China relations and the financial crisis, with ongoing negotiations for a partnership and co-operation agreement between the two sides expected to receive an extra push.

Following a cancelled summit in December 2008 and a fence-mending replacement in May of this year, one senior European Commission official this week said the EU was now "very much back to business with China."

But ongoing tensions over the EU's embargo on selling arms to China and delays in granting it economy market status, together with a spate of recent anti-dumping measures and questions over market access will prevent leaders from getting too chummy.

One area causing particular concern in the EU at the moment is China's policy of maintaining a weak currency, undercutting European exporters.

But how successful the meeting on 28-29 November between Chinese officials and European Central Bank president Jean-Claude Trichet, EU economy commissioner Joaquin Almunia and Eurogroup chairman Jean-Claude Juncker, remains to be seen.

And while the EU has received some clarifications regarding a Buy China clause in the country's 4 trillion yuan (€400 billion) stimulus package, the situation has not improved in recent months, said Mr Abruzzini.

"Everything is becoming more and more difficult in China for European businesses," he said of market access in general, citing a recent list of 130 products that now need to receive "china certification" before they can be sold in the country.

A summit of EU and Chinese business leaders on the 30 November will contribute a political message to the main event.

full report @