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Special> Global Financial Crisis> Latest
UPDATED: February 1, 2009
China, EU Pledge Closer Cooperation in Tackling Financial Crisis
China and the European Union (EU) on Friday agreed to strengthen practical cooperation in jointly addressing the current global financial crisis

China and the European Union (EU) on Friday agreed to strengthen practical cooperation in jointly addressing the current global financial crisis.

The agreement came after talks between visiting Chinese Premier Wen Jiabao, who arrived here on Thursday for a visit to the EU headquarters, and European Commission President Jose Manuel Barroso.

Wen told Barroso that China, in its foreign relations, lays a strategic emphasis on developing the comprehensive strategic partnership with the EU, and promoting cooperation to jointly tide over the current difficulties should be a key task for both sides under current circumstances.

To this end, both sides need to trust and respect each other, treat each other equally and aim for mutual benefit, Wen said. In particular, China and the EU should address each other's major concerns and try to stave off disputes, he added.

Barroso said the EU and China have seen close, deep and fruitful relations, and, as two major forces in the world, many global issues cannot be solved without EU-China cooperation.

The EU is ready to promote dialogue and cooperation with China to elevate the comprehensive strategic partnership to a higher level, he said.

To jointly tackle the global financial crisis, China and the EU agreed to expand information exchanges between financial institutions, the central banks and financial supervisory and regulatory bodies.

Both sides pledged to promote trade and investment. China will continue to steadily expand market access and increase import from the EU, while the EU recognized China's achievement in promoting market economy.

Both sides agreed to support cooperation between small- and medium-sized businesses and to deepen cooperation in technological innovation in such areas as energy conservation, greenhouse gas emission reduction and health care.

China and the EU vowed to work together in mitigating and adapting to climate change, agreeing to boost cooperation in developing new energies, new energy conservation technology and a low-carbon economy.

The two sides also reached consensus on close coordination in macroeconomic policies and opposition to trade protectionism.

China and the EU on Friday signed cooperation agreements on aviation, work safety, clean energy and intellectual property rights protection.

(Xinhua News Agency January 31, 2009)

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