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      Economy

      EU, China hold roundtable discussion on Belt & Road Initiative

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      2016-05-20 09:51Xinhua Editor: Mo Hong'e

      Consultative bodies of China and the European Union (EU) held a roundtable meeting here on Wednesday and Thursday, exchanging views on the China-proposed Belt and Road Initiative and seeking common ground and best practices.

      The EU-China Civil Society Round Table 14th meeting was hosted by the European Economic and Social Committee (EESC), and was joined by its Chinese counterpart, the China Economic and Social Council (CESC).

      The communication platform was set up in 2007 following a decision taken by the 9th EU-China Summit, which acknowledged that the exchanges and cooperation between the EESC and CESC formed an integral part of the EU-China relationship.

      Topics on the agenda of this year's meeting included innovation and economic development in rural areas, infrastructure and investment in the context of the Belt and Road initiative, and the launch of the Asian Infrastructure Investment Bank (AIIB).

      "This roundtable couldn't have taken place at a more opportune moment," Ambassador Yang Yanyi, Head of the Chinese Mission to the EU, said at the meeting's opening ceremony.

      "China-EU comprehensive strategic partnership is entering its new decade," she said, noting that both China and the EU saw each other's development as opportunities and were joining hands to keep up the momentum to further strengthen China-EU cooperation.

      China is currently going all out to build a moderately prosperous society in all respects through the implementation of the 13th Five Year Plan with a strong focus on transforming the development model, restructuring the economy, deepening reform and expanding opening-up, the Chinese ambassador said.

      At the same time, the EU is coming to grips with many challenges and pressing ahead with the reform of its economic and social structures to keep the EU competitive in the global economy, she added.

      "The work done by both societies to reform and develop our economies go hand in hand. We therefore welcome the efforts made by both sides to bring together expertise on these important topics," she said.

      "I am sure deliberations at the roundtable will bring fresh perspective and proposals on the agenda items and that the roundtable will contribute in a meaningful way to the promotion of cooperation between China and the EU in related fields and also to the achievement of the global 2030 Agenda for Sustainable Development."

      EESC president Georges Dassis told Xinhua on the sidelines of the meeting "The roundtable discussions have proven their relevance to the overall EU-China strategic partnership, and was warmly welcomed by the attendants from both sides."

      Noting that the relationship between the two sides had expanded and developed, the president said mutual experiences contribute to an informed and balanced development of the overall relationship.

      The joint statement which the participants adopted during the roundtable recognizes that the objectives of the Europe 2020 strategy and China's 13th five-year plan are compatible.

      The two consultative bodies further advised that the Belt and Road vision needed to be transformed into a more tangible and understandable reality for all actors involved, including civil society.

      Meanwhile, the statement praises the direct participation of EU member states in the AIIB and the entry of China into the European Fund for Strategic Investments (EFSI) as a good example of the principles of reciprocity and inclusiveness.

      "Having a stake in each other's financial institutions provides an opportunity to uphold principles which are crucial to civil society worldwide," the statement said.

      Vice-president of the CESC, Xu Zhenhuan, stated: "infrastructure is at the basis of economic development in the EU and in China. Projects in this area not only generate jobs, but are also conducive to societal and economic development."

      The EESC applauded the planned synergies between China's Belt and Road Initiative and European Investment Plan, also known as the Juncker Plan.

      Dassis said the cooperation between the two development plans could contribute to improving living standards of people in countries involved in the initiative, as well as benefit the whole world economy.

      Stefano Palmieri, rapporteur at the EESC and a speaker at the roundtable meeting's debate on China's Belt and Road Initiative, voiced the importance of both the initiative and Juncker Plan, adding the EESC hoped the initiative would be developed toward not only economic, but also social and environmental sustainability.

      Furthermore, the participants expressed their support for the ongoing negotiations toward a future EU-China investment agreement, calling for direct involvement of civil society organizations from both sides.

      The closed-door meeting also discussed innovation and economic development in rural areas.

      The participants noticed the EU and China were facing common challenges with regard to rural policy, in particular, rural depopulation, environmental sustainability and the social demands arising from an ageing demographic.

      To address these challenges, the joint statement calls for an exchange of best practices and ideas in rural development between the EU and China, similar to the existing dialogue on urban development.

      "China and the EU share common values: smart sustainable and inclusive growth; enlarging and deepening cooperation; the importance of networking in the framework of our mutual dialogue," said European Commissioner for Regional Policy Corina Cretu.

      "EU and China are committed to developing their cooperation, and the EU can assist China in reaching smart and sustainable growth," Cretu added.

        

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