The European Union and China launch a new mechanism to balance trade and enhance cooperation
BRUSSELS, June 29 / WAM / Today in Brussels, the European Union and China announced the launch of new consultations on trade and investment (TIC) with the aim of enhancing dialogue and achieving greater balance in economic relations between the two sides.
This came during a meeting between Maroš Šefčović, the European Commissioner for Trade and Economic Security, and Wang Wentao, the Chinese Minister of Commerce, where the two parties agreed to address the existing challenges through four main axes, including the balance of trade and investment, export controls, intellectual property rights, and reform of the World Trade Organization.
It was also decided to establish a joint mechanism to monitor trade flows and exchange data with the aim of enhancing transparency, building confidence and reducing trade frictions.
The two sides stressed the importance of improving market access, as well as strengthening dialogue on vital materials and global supply chains, while agreeing to hold a new ministerial meeting in the fall of 2026 to follow up on progress.
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