EU, China closer than ever to alleviating uncertainty

03:28

The President of the EU Chamber of Commerce in China Joerg Wuttke has said that the EU and China are closer than ever to overcoming uncertainties and noted that the world needs to tackle current issues but also future problems.

On Monday, the 22nd China-EU leaders' meeting was held, with Chinese Premier Li Keqiang holding video talks with the President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen.

"It's very important that our leaders of Europe talk to the leaders of China. We hope they speak with the Chinese leadership in all openness about the challenges we are facing, trade issues we have every year, but also the common goals, such as climate change and how to safeguard the World Trade Organization," Wuttke said in an interview with CGTN ahead of the high-level meeting.

China and the EU together account for nearly a third of the world's GDP. Over the years, both sides have reached a broad consensus on tackling climate change and supporting multilateralism.

Wuttke emphasized that both sides should keep their borders open in the post-pandemic era to guarantee the flow of people and goods.

"The Geographical Indications for Food mean a lot to China, a lot of Chinese products are being sold to the EU and they want to be recognized by their local name – Mao Tai and Fujian Tea. The EU wants the Parma ham, the champagne and cognac to be recognized," Wuttke said.

A recent business survey, the European Business in China Business Confidence Survey 2020 (BCS), by the European Chamber of Commerce in China said the country remains among the top three investment destinations for 63 percent of respondents.

Wuttke commenting on the economic recovery of China and the rest of the world, said, "We don't know where the global economy is going to head. Some companies in chemicals and cars are coming back strong, the service sector is on its knees, airlines might take 10 years to recover," adding that "China will come out of this first."

When talking about the U.S.- China trade and tech war, Wuttke earlier noted that "When two elephants dance, it's hard to stand aside and not be impacted."

He said that the U.S.-China trade and tech war has significant implications for Europe. "When supply chains suffer, confidence is going to evaporate," Wuttke noted.

"Europe wants to be our own growth story, basically work with partners as we think is fit for our society."