Beijing (Brussels Morning Newspaper) – China’s Commerce Ministry said on Thursday the country is willing to explore the possibility of various trade and investment agreements with the European Union.
Ministry spokesperson He Yadong told a press conference that the two sides share “extensive common interests and huge space for cooperation.”
The remark came after Chinese Foreign Minister Wang Yi told his Estonian counterpart in Beijing on Tuesday that China is willing to negotiate and sign a free trade deal with the bloc.
Estonian Foreign Minister Margus Tsahkna met with his Chinese counterpart Wang Yi as well as a number of other officials during a two-day trip to Beijing, which marked the first visit by an Estonian foreign minister in a decade. Russian aggression against Europe and trade were at the top of the agenda.
What did the Estonian foreign minister call for in Beijing?
During a Tuesday interview, Tsahkna called for China to stop its economic support of Russia’s war in Ukraine and to work with others in Europe and the U.S. to persuade President Vladimir Putin to agree to a ceasefire.
“President Trump said as well that this pressure (on Russia) is very important, that China should join. And I think that China can do a lot if it joined the pressure on Russia to finish the war,”
said Tsahkna.
Tsahkna mentioned he raised with his counterpart the issue of China providing dual-use critical components to support Russian war efforts. China denies these allegations and claims it closely controls all exports of dual-use items.
Both sides discussed a “very important” EU-China free trade agreement, which is distinct from the landmark 2020 investment agreement that has been dormant since 2021, but Tsahkna suggested that the fact that China has provided military and other support for Russia may slow down progress towards a conclusion of the free trade agreement.
He indicated that he hoped that the recent discussions between Beijing and Brussels about newly expanded Chinese Rare Earth export controls could lead to a roadmap for approvals for general licenses for European companies, as the sector is facing a supply crunch on a global level.
How did the recent talks between China and the EU progress?
Last week’s meeting between EU representatives and Chinese officials discussed how to ensure the stability of supply chains for rare earth materials that Beijing restricted exports of in April, possible general licenses, the EU Commission said.
During the meeting last Friday, EU and Chinese officials discussed “supply chain and licensing facilitation measures” to maintain the supply of rare earth materials in the Western economy. The EU, nevertheless, had committed to further discussions with Beijing on various ways to ensure a stable supply chain for rare earth materials in the supply chain, including discussing general licenses.”
