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China-Germany Market Access Equalization Agreement Further Advances

(Summary description)Merkel made it clear that she sees great potential in economic relations with Asian countries and must improve the framework conditions in this area and break down restrictions; this includes equal tr

China-Germany Market Access Equalization Agreement Further Advances

(Summary description)Merkel made it clear that she sees great potential in economic relations with Asian countries and must improve the framework conditions in this area and break down restrictions; this includes equal tr

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German Economy Minister Peter Altmaier said at the Asia-Pacific Committee of German Business in Berlin that there is still a lot of room for development and potential in the relationship between Germany and Europe and Asia, but the equalization of market access is very important. As a trading partner, China, which has experienced a post-pandemic recovery, has played a prominent role in the economies of Germany and Europe. However, there is still room for negotiation and development between Asian countries and the EU to reach an agreement on the equalization of market access.

 

 

Merkel made it clear that she sees great potential in economic relations with Asian countries and must improve the framework conditions in this area and break down restrictions; this includes equal treatment and transparency, legal certainty and intellectual property protection.

 

In mid-September, the EU demanded far-reaching concessions from China before concluding negotiations on an investment agreement. European Commission President Ursula said after the EU held high-level talks with Chinese President Xi Jinping that China still needs to do a lot of work on market access and sustainable development if a deal goes ahead as planned by the end of the year, although negotiations on a deal are already underway more than six years.

 

Merkel said that especially under the situation of the epidemic, it has proved how important international cooperation is and how urgent it is to strengthen international cooperation. The German government is aware of the growing importance of the Asia-Pacific market on a global scale. German foreign trade is opening up new prospects, not just with China.

 

 

Joe Kaeser, chairman of the Asia-Pacific Committee of German Enterprises and chairman of Siemens AG, said that the EU must formulate economic policy interests more clearly and uniformly in the face of competition with China and the United States.

 

Joe Kaeser said that the new economic data shows that China has quickly entered an economic recovery, which is not only supported by the huge size of the Chinese market, but also due to the Chinese government's epidemic prevention measures.

 

China's economy grew by 4.9 percent in the third quarter of this year compared with the same period last year, according to China's Beijing Bureau of Statistics. In the first quarter of this year, China's economy still experienced a negative growth of 6.8%, which shows the rapid development of China's economy.

 

The Minister of Economy also said that especially countries and regions that continue to fight against the new crown epidemic are also the first to get back on their feet and resume development economically. Germany and the EU must show that social models and government mechanisms that differ from capitalism can still be effective against the coronavirus.

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