EU ambassador to China regrets lack of trade progress with ‘partner, competitor, rival’

Jorge Toledo told a forum in Beijing that he was ‘sorry to say’ that dialogue on economic issues and trade has not made substantial progress in recent years

The European Commission recently unveiled a strategy to respond more decisively to economic security risks, with China in particular in its sights

Reading Time:2 minutes

Amid rising tension, how much trade will China and the EU engage in? Photo: Shutterstock

Published: 11:10pm, 2 Jul 2023Updated: 12:09am, 3 Jul 2023

The European Union’s ambassador to China expressed regret on Sunday over the lack of “substantial progress” with Beijing on trade talks, as EU countries seek to reduce their economic dependence on the Asian giant.

The European Commission has suspended its efforts to get member states and parliament to ratify an investment agreement reached with China at the end of 2020, after seven years of talks, following differences over human rights in the Muslim-majority region of Xinjiang.

With relations cooling, the EU also decided in May to “readjust” its position towards China to reduce its economic dependence at a time when Beijing is suspected of giving Moscow tacit support for its war in Ukraine.

“I’m sorry to say that we have a dialogue on economic [issues] and trade which has not made any progress, or at least substantial progress, in the last four years,” EU Ambassador Jorge Toledo said at a forum in Beijing.

“We want to engage with China, but we need progress, and we need it this year,” Toledo said, adding that a high-level economic dialogue between the two sides would be held in September.

For the EU, China is “simultaneously a partner, a competitor and a systemic rival”, he said.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x