Recent China-EU commercial relations

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Source: CCTV.com | 05-08-2009 20:35

China-EU relations have traditionally been straight-forward and profitable by placing an emphasis on trade. But in recent years, diplomatic relations have taken the spotlight from trade ties, and become an obstacle to focusing on key commercial concerns.

In late January, this year, Chinese Premier Wen Jiabao  visited the EU. His visit was followed by a large business  delegation that purchased products worth 12 billion US dollars  while deliberately ignoring France.

China-EU relations hit a low in late 2008, when French President, Nicholas Sarkozy, met with the Dalai Lama. After this, China cancelled the EU-China Summit. In late January, this year, Chinese Premier Wen Jiabao visited the EU. His visit was followed by a large business delegation that purchased products worth 12 billion US dollars while deliberately ignoring France.

In the wake of the global economic downturn, trade between the two sides has plummeted. China's exports to the EU saw the first ever decrease in January, while the EU's exports to China fell by 27 percent.