Business / Economy

China is 'open' to TTIP if it is open: Official

(Xinhua) Updated: 2016-02-18 11:00

BEIJING - China "takes an open attitude" toward the Transatlantic Trade and Investment Partnership (TTIP), a trade deal being negotiated between the European Union and the United States, so long as it is "open and transparent," a Chinese official said Wednesday.

The remarks were made by Shen Danyang, spokesman of the Ministry of Commerce (MOC), at a press conference.

China has been paying attention to TTIP negotiations, and China takes an open attitude toward any free trade agreement on global trade liberalization and regional economic integration so long as it sticks to the principle of openness and transparency, Shen told reporters.

"China holds that free trade deals in all regions and of all types should be transparent, open and inclusive, and be conducive to promoting the well-being of people all over the world. This is also applicable to our attitude toward the TTIP," Shen added.

The EU and the United States, accounting for 47 percent of global economy, 28 percent of international trade and 53 percent of foreign investment, have conducted 11 rounds of TTIP negotiations covering fields including market access, the service sector, investment and IPR.

"We noticed that the two sides still have differences in a number of areas such as goods trade, service trade, investment and regulatory compatibility. Therefore, it is just something natural for the sides to speed up negotiations for substantial progress," he added.

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