President Joerg Wuttke Speaks at the 11th EU China Business Summit Go back »

2016-07-13 | Beijing

President Joerg Wuttke Speaks at the 11th EU China Business Summit

European Chamber President Joerg Wuttke addressed attendees of the 11th EU-China Business Summit on 13th July, including Chinese Premier Li Keqiang and European Commission President Jean-Claude Juncker.

The event was the result of ongoing cooperation between the co-organisers, the European Chamber and the China Council for the Promotion of International Trade (CCPIT).

Hosted in Europe and China on an alternating basis, the Business Summit is an annual dialogue that brings together industry to discuss critical business and trade issues. This year more than 600 European and Chinese business leaders attended. 

Please see President Wuttke’s speech below:

 

Sixteen years ago the founders of the European Chamber brought more than just an additional business organisation to China. They also brought a new commitment to reform, conceived in the belief that China can do better, and dedicated to the proposition that fair trade and a level playing field for investment benefits China first and foremost. They also understood that a China that reforms is of great benefit to EU business.

Now we are engaged in challenging times, testing not only this great nation’s economy, but also our own home continent: Europe.

We meet today, while the global economy is fragile, the ugly face of protectionism is rearing its head and populism challenges growth as well as the livelihoods of many of our citizens.

We have come to pledge new ideas, formulate new solutions and to express our confidence in the ability of our leaders to steer our regions through troubled waters.

We can only do this with respect; we can only do this in earnest; and we can only do this by recognising both the strengths and weaknesses of our capabilities.

The members of the European Chamber are known for doing diligent work with our 400-page Position Paper, not mincing words while discussing overcapacity and remaining confident in China’s ability to reform as they meet dignitaries in Beijing, as well as in the other eight cities where our chapters maintain offices.

The world takes note when government and business representatives from two of the largest economies gather together. It does not care what we say here, but will instead measure us by whether or not we live up to the commitments that we make.

We are in this together, we have dedicated our work to ensuring that our trade and investment is fair and transparent, with companies also held accountable for their actions.

It is therefore for all of us to dedicate our efforts to the great tasks remaining before us.

Because if we fail—fail to address shortcomings, fail to formulate solutions and fail to implement our promises and commitments—then we have not only let our employees and business partners down, but also our regions.

The EU and China, each struggling with the pain of transition, are too big to fail in their efforts. It simply isn’t an option.

Chinese and European business are too linked and too interdependent to take the shortsighted and counterproductive route of protectionism.

The 1,600 members of the European Chamber in China are able, willing and committed to do their bit, small as it might be.