In a significant diplomatic engagement, France and China have initiated discussions on trade issues, marking a pivotal moment in their bilateral relations. The meeting between French Foreign Minister Stéphane Séjourné and his Chinese counterpart Wang Yi underscores the importance of strengthening economic ties between the two nations.
The talks, held in the Chinese capital, Beijing, come ahead of an anticipated visit by Chinese leader Xi Jinping to France. Both ministers addressed key aspects of the economic partnership, echoing sentiments previously expressed by European leaders.
During a joint news conference, Séjourné emphasized the need to rebalance the economic partnership, particularly concerning trade deficits with certain countries, including China. He highlighted the EU's open market stance but expressed concerns about unsustainable deficits and potential disruptions in key sectors like electric vehicles (EVs).
European officials have raised apprehensions regarding the influx of low-priced Chinese-made EVs into the market, which could adversely affect local production and employment. Furthermore, ongoing investigations into Chinese government subsidies for EVs have added complexity to trade relations.
Conversely, Chinese officials have voiced concerns about the EU's "de-risking" strategy, aimed at diversifying vital supply chains. Wang Yi acknowledged European concerns but emphasized the mutually beneficial nature of China-EU relations, urging against actions that could dampen business sentiment.
Amidst discussions on trade, the leaders also touched upon the topical issue of Ukraine, with France urging China to play a constructive role in promoting peace. Séjourné reiterated France's commitment to maintaining dialogue with China to contribute to a lasting solution in Ukraine.
The meeting signals a concerted effort by both countries to address economic challenges and foster greater cooperation in trade matters. As they navigate the complexities of the global economy, France and China are committed to nurturing a partnership that brings mutual benefits and opportunities.
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