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September 10, 2009

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Home » Business » Economy

Wen calls for early EU notice

THE European Union's early recognition of China's market economy status will be conducive to bilateral relations and free trade, Premier Wen Jiabao said yesterday.

"The EU should recognize China's market economy status as early as possible," Wen told Britain's Business Secretary Peter Mandelson in Beijing on yesterday.

"This will be conducive to China-EU relations, to free trade and to the recovery and growth of the world economy," Wen said. He expressed the hope that Britain will play an active role in this process.

In 2004, New Zealand became the first country to recognize China's market economy status. Since then, more than 70 countries and organizations, including Russia, Australia, South Africa, South Korea and the 10-member Association of Southeast Asian Nations, have recognized China as a market economy.

Mandelson, who is also First Secretary of State, said Britain would like to strengthen macro-economic policy coordination and substantive cooperation.

Amid the global economic crisis, the leaders of China and Britain have maintained close communication and coordination, business cooperation and joint efforts to help the international community with the crisis, Wen said.

He said these moves signified the vitality of the all-round strategic partnership.

China and Britain are working toward a two-way trade value of US$60 billion by next year.


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