EU presses mainland over piracy concerns China must do more to protect intellectual property rights, European Trade Commissioner Peter Mandelson said yesterday. 'Intellectual property rights protection remains, together with transparency, my biggest concern,' he said. 'It's our issue today but I tell you, tomorrow and the day after it's going to be China's issue.' He was speaking at the launch of the annual EU Chamber of Commerce position paper in Beijing, during a break in talks with Commerce Minister Bo Xilai over more than 80 million Chinese-made garments piled up at Europe's borders. Just 21 per cent of EU chamber firms regard Chinese intellectual property enforcement as effective. Statistics vary wildly, but the trade in counterfeit goods is estimated at between 5 per cent and 9 per cent of all global trade and costs the global economy between Euro200 billion ($1.94 trillion) and Euro500 billion a year. Some 200,000 jobs are lost each year at firms producing legitimate goods because of competition from counterfeiters. European firms are also particularly concerned by continued restrictions on government procurement and in the banking sector. 'European banking expertise stands ready to provide its service and get engaged. [China] needs it,' Mr Mandelson said. While praising China's progress on implementing its World Trade Organisation commitments, European companies said there were problems with enforcement of WTO commitments and continued government obstruction. 'There's no use bringing down your tariffs on schedule only to replace them with non-tariff barriers to trade and investment,' Mr Mandelson said. The government's introduction of China-specific industry standards, particularly in cars, cosmetics, information technology and telecommunications, were examples of such barriers, said chamber president Serge Janssens de Varebeke. Sino-European trade exceeded Euro176 billion last year, making the EU China's largest trading partner and China the EU's second largest. But in the first half of this year China's exports to Europe soared 39 per cent while European exports to China rose just 2 per cent. Eighty-six per cent of chamber companies said they were optimistic about prospects in China and 61 per cent expected to be profitable this year, after 90 per cent and 64 per cent respectively last year. They expressed a desire to be more involved in the drafting of Chinese law, particularly the upcoming enterprise income tax, anti-monopoly and telecommunications legislation.