Chinese Minister of Commerce Chen Deming and European Union (EU) trade commissioner Peter Mandelson kicked off the 23rd China-EU Mixed Committee on Trade and Economic Cooperation in Beijing and reached consensus on a wide array of topics.
Both sides agreed to quicken the negotiation process of the Intellectual Property Rights (IPR) Customs Enforcement Action Plan, according to the Ministry of Commerce (MOFCOM).
They would input 73.8 million Euros ($108.5 million) this year to launch the Development Cooperation Plan to support bilateral environmental protection, energy, climate change and human resources development and other projects, MOFCOM said on its official website.
"China is willing to join hands with the EU to further tap cooperation potential to lay a solid economic foundation for the all-around bilateral strategic partnership," Chen said.
China gave thanks to the EU's humanitarian aid for the victims of the deadly May 12 earthquake. Both sides agreed to conduct further discussions on EU's assistance for training Chinese officials on emergency crisis management and reconstruction project collaboration.
The two sides discussed and achieved consensus on steel trade, customs cooperation, technical trade barriers, two-way investment and other issues, according to the MOFCOM.
To enhance bilateral cooperation would play a crucial role in maintaining the smooth development of the world economy, Chen added.
Mandelson said the world economy was facing up with challenges and the financial turmoil was sweeping across the world. Both sides should cherish the inter-dependent bilateral trade and economic ties, stick to opening up and cooperation policy and jointly deal with challenges.