China and the European Union have agreed to accelerate preparations for bilateral talks on a new partnership framework agreement, according to China's commerce ministry.

During the 21st China-EU Economic and Trade Joint Committee meeting, co-chaired by China's Minister of Commerce Bo Xilai and EU Trade Commissioner Peter Mandelson, the two sides agreed to make full preparations for updating and improving the 1985 Trade and Economic Co-operation Agreement, the commerce ministry said yesterday in a statement.

It added they expected to reach a consensus this year on certain aspects and would push forward the accomplishment of the agreement.

"The 1985 agreement is outdated but our trade relations are growing week by week," Mandelson told a press conference yesterday. "As for the negotiations on a wider partnership and co-operation agreement, Bo and I will be negotiating the updating of the agreement."

The four-page document dating back to 1985 forms the foundation for the Sino-EU relationship in nearly every aspect  from economics to politics.

According to the commerce ministry, the two trade officials reached agreement on a number of issues, including: settlement of trade friction through friendly consultation; exchanges on intellectual property rights protection; the establishment of a China-EU trade co-operation website; co-operation between small- and medium-sized companies; department-level exchanges and dialogue on services trade; and informal dialogue on iron and steel trade.

The EU trade chief yesterday visited the State Intellectual Property Office, pressing China for greater efforts on intellectual property rights protection.

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