China and the European Union (EU) launched the second phase of the EU-China Trade Project (EUCTP) in Beijing on Thursday, promising deeper trade cooperation between the two sides.
According to the second phase of the EUCTP, China and the EU would strengthen trade-related cooperation in the service sector, technological trade barrier, agriculture and food safety, and supervision of the Customs.
China’s commerce minister Chen Deming said at the launch ceremony that the successful implementation of the first phase of the EUCTP had helped raise China’s capabilities in dealing with trade-related affairs and deepened China-EU trade relations.
EU-China trade has increased dramatically in recent years. China is now the EU’s second-largest trading partner and the second largest export market, and the EU is China’s largest trading partner and export market.
The EU-China Trade Project (EUCTP) is the third major EU-China trade related technical assistance project since 2000.
The EUCTP was first launched in 2004 by the European Commission and the Chinese government.