Increasing interdependence demands closer EU-China cooperation

The world is going through rapid changes and global readjustments caused by globalisation and increased inter connectedness between countries and peoples. This trend has brought us closer together, has helped us to know each other better and to understand the other's needs in a clearer manner. The shortening of the distances has cut across many areas. In the emerging new global order every country is shaped by what is happening around it.

All actors, big and small, should play their part in fostering even closer global cooperation. To this effect, a stronger EU and China cooperation is not only desirable but a true necessity. This has been made once again strikingly evident with the current world economic uncertainties. The crisis which started across the Atlantic, has hit Europe and is having repercussions throughout the world. Reinvigorating economic growth, creating jobs, ensuring financial stability, promoting social inclusion and making globalisation serve the needs of the people are today's most important priorities.

China and the EU, as two pillars of world's economy, need to do their part to contribute to a strong and a balanced global growth. The European Union is doing whatever it takes to overcome the current situation in the Euro zone by correcting budgetary imbalances, and taking active measures to enhance growth and competitiveness and create jobs. At the same time China's plan to rebalance its growth model is not only key to secure more resilient, inclusive and sustainable growth in China, it is also a crucial contribution to the rebalancing of demand needed at the global level. Implementing the Action Plan for Growth and delivering on the G20 Cannes Summit conclusions should therefore be part of our common response and bilateral agenda.

There are further challenges we need to tackle together: the progress to be made towards 2015 to achieve a comprehensive and legally binding outcome on climate change, the actions to be taken to ensure regional peace and stability, the preservation of the non proliferation system, the strategy to ensure food security and sustainable development, the measures to prevent cyber crime, to name but a few.

It is with this ambitious agenda and shared determination that we are going to China to attend the 14th EU-China Summit in Beijing on February 14th. Our discussions will focus on a forward looking agenda touching all areas of cooperation. It will show that we are moving forward and demonstrate that the EU-China relationship is strong, balanced, creative in overcoming its differences, and built on mutual respect.

The prosperity of our peoples and the sustainable and inclusive development of our economies is at the centre of our relations. Europe is China's biggest trading partner, and China is now close to becoming the EU´s largest trading partner as well. Europe also offers to Chinese business a single market of 500 million consumers and safe and predictable investment opportunities. The EU has been supporting China's stable development with investment and technology. However, the scope for improvement of the economic relation is still enormous, particularly on mutual investment flows. We need to work together to promote and facilitate more investment and market access in both directions, to remove trade barriers and to uphold intellectual property rights.