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EU and China talk trade to reverse recession

EU and China talk trade to reverse recession article image

Negotiations over trade barriers has once again come to the fore as the European Union met with China late last week to discuss reversing the recession that has hindered their respective economies. Following the second day of talks, EU Trade Commissioner Catherine Ashton stated "trade and investment will lead us out of the current crisis". The US, China and India rejected last year's deal to remove trade barriers, but due to falling demand from wealthy economies for Chinese and Brazilian imports, negotiations have reopened with a view to encourage more trade. "We received assurances that the Chinese will keep their stimulus package fair, open and transparent," said EU trade official Mauro Petriccione, who added that whether that would occur may be a different story. Other issues on the table include safety standards and copyright infringements.

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