Hamburg Summit closes with calls to promote rule-based global trade

HAMBURG, Germany - Several German and European officials on Tuesday called for stronger EU-China ties to promote a rule-based global trade system at the end of the two-day Hamburg Summit.

Tobias Bergmann, president of the Hamburg Chamber of Commerce, said China and European Union (EU), as main drivers of the world economy, are both facing the current uncertainty in the global political situation.

He called on China to work along with the EU towards rule-based world trade system within the framework of the World Trade Organization (WTO), to fend off protectionism.

"In this, China and Europe need to further strengthen their partnership with a view to taking on greater responsibility globally," Bergmann said.

Echoing Bergmann's remarks, Margrethe Vestager, European Commissioner for Competition, said China and Europe are partners because of "what affects one of us will affect both of us."

According to Vestager, as two of the world's largest economies, accounting for about a third of world's Gross Domestic Product, it is important that China and Europe stay together.

"Our size gives us the influence, which means we could make real difference of the world that are facing today...to make world safer and more prosperous," Vestager said.

Vestager stressed that Europe and China have a shared interest in strengthening the rule-based international system for a global level playing field and fair competition.

"I hope that our meeting today will confirm these shared objectives to help address concerns within the global rules and avoid unilateral measures," said Vestager in her keynote speech.

On measures to forge closer relations, Peter Tschentscher, First Mayor of Hamburg, said that the China-proposed Belt and Road Initiative has strengthened the links between Asia and Europe, thus provided potential for multilateral trade and the world economy as a whole.

He added that there are over 30 freight trains every week to Hamburg liking 27 cities in China, and the networks are creating benefits for all the countries involved.

Tschentscher said that Hamburg is ready to act as the "firm anchor base" of the EU relation with China.