Beijing, Sep 26 (FN Bureau) China and the European Union have agreed to strengthen macroeconomic policy coordination and jointly address global challenges, the Chinese Commerce Ministry said on Tuesday. “The parties agreed to strengthen communication and coordination on macroeconomic policies, jointly address global challenges such as climate change, food and energy security, maintain the stability of global economic and financial markets and inject more confidence into global economic growth,” the ministry said in a statement. The parties also agreed to jointly oppose policies of unilateralism and protectionism and strengthen the rules-based multilateral trading system, according to the statement.
“The sides pledged to remain open to each other and provide each other’s companies with a fair and non-discriminatory business environment,” the Chinese ministry said. China and the EU also decided to create a working group at the level of deputy ministers to strengthen financial cooperation. The ministry also said that the participants in the talks agreed to build stable and mutually trustworthy supply chains and safeguard their sustainability. “The parties agreed to establish an export control dialogue mechanism to conduct communication on export control policy and application,” the statement read. Chinese and European officials held the 10th round of China-EU economic and trade dialogue in Beijing on Monday. The commerce ministry said the talks were “pragmatic, frank and fruitful.”