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2011-05-19 | All chapters

Set up Chinese trade chamber in Europe: Van Rompuy
Global Times, 19th May,2011

A Chinese Chamber of Commerce should be established in Europe to further open up the European market to Chinese companies, the European Union's (EU) top official said in Shanghai Wednesday.

Herman Van Rompuy, president of the EU's European Council, said in a speech at the China Europe International Business School in Pudong New Area that China was likely to overtake the US to become the EU's biggest trading partner in the years to come.

"I firmly believe that the further development of Sino-European economic relations will benefit both parties and enhance cooperation at a global level,"  Van Rompuy said, applauding the Chinese government's contribution to minimizing damage caused by the world financial crisis and its efforts to rebalance the country's growth in its 12th Five-Year Plan.

Market access is crucial to keeping both economies open to each other, he said.

There was no need to exaggerate the different levels of openness to foreign companies seen in Europe and China, he said, but added that the issue could not be ignored either.

"It will be very much appreciated if the Chinese government could set up a Chinese Chamber of Commerce in Europe like its European counterpart in China to help Chinese companies further adapt to the market and improve mutual understanding," he said, adding that the eurozone internal market is extremely attractive to Chinese investors.

Founded in 2000, the EU Chamber of Commerce in China has offices in nine first-tier cities with over 1,600 members.

"We have been invited by the Ministry of Commerce and Ministry of Finance to participate in a hearing to establish new rules and regulations that influence our members' interests," a press officer from the EU chamber told the Global Times Wednesday.

She said the organization has helped the European companies and Chinese regulators to better understand each other and has improved the economic environment for its member companies.

Van Rompuy also suggested China and Europe explore long-term cooperation in urbanization and green technology during an interview on the sidelines of the event.