EU To Improve Trade With China

by Ulrika Lomas, Tax-News.com, Brussels

02 September 2010

European Tax Commissioner, Algirdas Šemeta, will open an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.

The aim of the conference is to explore ways to enhance further customs cooperation between the European Union (EU) and China, in order to allow a smooth trade flow between both sides while providing citizens with a high level of protection.

Securing the supply chain, tackling smuggling (particularly of cigarettes) and protecting intellectual property rights will be high on the agenda. China is the EU's second largest trading partner after the US and its biggest source of imports. The EU is China's largest export market. Both the EU and China therefore have a real interest in ensuring that safe, genuine and legal products can easily enter each other’s markets.

Commissioner Šemeta will spend three days in China, discussing key issues related to customs and anti-fraud measures with national authorities and business representatives, and will visit the port of Shanghai to see first-hand how Chinese customs controls operate.

"The booming trade between the EU and China is extremely positive,” said Commissioner Šemeta. “However, the downside is that we have seen a parallel increase in illegal trade, which must be stopped.”

“Respect of customs rules is essential to protect our citizens and guarantee the free flow of goods between trading nations. This is why we must work even harder on efficient customs cooperation between the EU and China, built on mutual trust and common goals.”

China is described by the European Commission as "the single most important challenge for EU trade policy." Cooperation between customs authorities on both sides is considered "essential" to facilitate this trade, the Commission says.

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