ERT welcomes EU Chamber of Commerce position paper on China
ERT urges the EU and China to continue the path of cooperation and economic openness
BRUSSELS, 23 SEPTEMBER 2021: ERT welcomes the Position Paper of the European Union Chamber of Commerce in China, released today.
The publication “European Business in China” outlines how China’s economy has achieved a strong recovery amid the challenges of the COVID-19 pandemic and that it looks set to remain strong for decades to come, with an overall positive near-term outlook for European companies operating in China.
China’s rapid economic growth in the last four decades has been achieved thanks to its bold reforms towards market opening and increased competition. The report by the European Chamber however points to troubling signs that China is increasingly turning inwards, which is casting doubts over its long-term growth trajectory.
As part of a joint commitment to provide a level playing field between Europe and China, ERT strongly agrees with the European Chamber that our mutual future economic success depends on continuing along the path of reform and openness. Building international partnerships and recommitting to increasing integration into the global economy are part of that approach. The European companies led by the Members of ERT play a key role in contributing to innovation capacity and competitive industries in China. It is vital that they continue to be able to contribute fully to the Chinese economy through further market opening and genuine free trade.
1 The EU Chamber of Commerce in China publication “European Business in China” is available here: https://www.europeanchamber.com.cn/en/publications-position-paper#download-table-373/
2 A full list of the Members of ERT is available here: ert.eu/members
3 Find more information on ERT’s publication Making Open Strategic Autonomy work here: https://ert.eu/documents/opentrade/
“The EU-China economic relationship is critically important for European industry, jobs and growth. It is also one of the most complex and challenging relationships, but we need to try to make it work, even if that involves walking uphill in the short term. A decoupling and the creation of separate supply chains must be avoided, as this would increase costs for companies and citizens worldwide, as well as slowing innovation and ultimately promoting isolationism. As advocated in our recent flagship paper “Making Open Strategic Autonomy work”3, we believe the EU and China should strengthen their economic and trade dialogue and use it to develop a positive agenda for cooperation.”