EU-China Business Summit 2009
Joint Business Declaration

Nanjing, 30th November 2009

1. Under the Patronage of the Ministry of Commerce of P.R. China, the European Commission, the Swedish Presidency of the European Union and the Jiangsu Provincial People’s Government, the 5th EU-China Business Summit was held on 30 November 2009 in Nanjing, China.  It was organized by the China Council for Promotion of International Trade and the European Union Chamber of Commerce in China, together with BUSINESSEUROPE – the Confederation of European Business, Svenskt Naeringsliv – the Confederation of Swedish Enterprise and Nanjing Municipal People’s Government, and with the support of the EU-China Business Association (EUCBA).

2. The Summit brought together high-level political and business leaders from China and the European Union, to discuss the theme The Green Agenda: Sustaining Growth Beyond the Recovery.  High-level participants included Wen Jiabao, the Prime Minister of China, Fredrik Reinfeldt, the Prime Minister of Sweden and President of the European Council, and José Manuel Barroso, President of the European Commission.

3. Chinese and European business leaders express their strong support to the principles of open markets. They call upon their leaders to promote these principles in their bilateral, regional and multilateral relations and to refrain from any recourses to protectionist measures. The 5th EU-China Business Summit took place in a climate of cautious optimism that the worst impacts of the global economic and financial crisis are drawing to a close. Some encouraging signs have picked up in recent months, supported in particular by demand from emerging economies. Business leaders call upon China and the EU to remain vigilant and continue pursuing necessary improvements of business conditions in order to sustain the recovery.

4. European and Chinese businesses note the helpful stimulus measures taken by both the Chinese and European governments which have been useful to soften the worst effects of the crisis.  They urge both sides to ensure that these measures are implemented in an open and non-discriminatory manner.

5. Businesses from both sides stressed the importance of an open and transparent investment regime and call upon their leaders to establish the right framework conditions.  Moreover, they highlight the positive role governments can and should play in boosting investor confidence and removing impediments to cross-border investment.

6. Participants discussed in particular business expectations and support for the upcoming WTO Ministerial Conference in Geneva (30 November-2 December 2009) and the UN Climate Change Conference in Copenhagen (7-18 December 2009).  They underline the global dimension of the issues discussed at these meetings and call upon the EU and China to show their common but differentiated responsibility when addressing these global challenges.  Further questions high on the agenda were related to innovation, services, investment and protection of intellectual property rights.

7. Business leaders express their strong concerns about the increase of protectionist measures around the world and call upon their leader to take a strong stance against these mushrooming practices. The European and Chinese business communities believe that the global economy would benefit significantly from a near-term successful conclusion of the Doha Round which should achieve an ambitious and balanced outcome.

8. In the run-up to the UN Climate Change Conference in Copenhagen, participants believe that both sides should intensify their efforts towards reaching a truly global agreement, which includes real contributions from all major emitters based on the principle of common but differentiated responsibilities. The Clean Development Mechanism (CDM) is one of the instruments to reduce global greenhouse gas emissions.

9. Innovation and skills in the area of green technology will be crucial to tackle climate change. The EU and China will both benefit from greater cooperation between businesses in this field and should promote further collaborative research into clean technologies. They agree that the establishment of a green economy would present a good opportunity to foster bilateral cooperation in the area of Intellectual Property Rights, as its effective protection is condusive to further economic growth. The European and Chinese business communities have high expectations on the EU-China High Level Economic and Trade Dialogue, which has the potential to give a new strategic impetus to EU-China trade relations and deliver positive results.

10. Both sides hope that the negotiations on the Partnership and Cooperation Agreement (PCA) and the negotiations on the updating of the 1985 EC-China Trade and Economic Cooperation Agreement will lead to the establishment of a stable, predictable, non-discriminatory and mutually beneficial legal framework for EU-China trade and investment relations, open up new opportunities for both Chinese and European businesses and further facilitate bilateral and multilateral trade, investment and economic cooperation.

11. With the world economy in a period of uncertainty, the cementing of economic links between major trade and investment partners is ever more crucial.  Business has a key role to play in reinforcing EU-China relations. In this respect, cooperation between representative business organisations in the EU and China should be further strengthened to facilitate exchange of experiences and best practices and to enhance industrial cooperation.  Chinese and European businesses remain committed to a strong and open EU-Chinese economic relationship and look forward to working together and cooperating actively to that aim.

12. The 6th EU-China Business Summit will take place in Belgium in 2010.

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