Meanwhile, The Commission's legal experts have advised it to grant China market economy status. A report prepared by two economists has suggested that this can be done without harming the EU economy albeit by taking certain extra measures.
As the deadline for granting China 'market economy status' approaches, Commissioners from the 28- member European Union are set to begin talks on#
While The Commission has indicated that no final decision should be expected before the summer, an exchange of views with EU governments could come as early as February 2 when EU trade ministers meet in Amsterdam.
They seem divided, with free-traders like Britain, Nordic countries and the Netherlands likely to be in favour but with nations such as Italy, which compete with Chinese goods, and France being against granting market economy status.
Germany's position could sway the decision, which diplomats say, is likely to need the support of all governments and not just a qualified majority. It is the EU's biggest exporter to China, but there is a strong undercurrent as China seeks to produce sophisticated products that compete directly with Germany.
Votaries of free trade say Europeans will gain from cheaper Chinese imports and that companies such as Alstom or Siemens will gain easier access to China's vast market in return.
The EU is China's largest trading partner, while China ranks second after the US for the EU and was the source of some 302 billion euros ($330 billion) of imports in 2014, more than triple their level at the start of the century. (SH)
ALCHEMPro News Desk - India
marketing@alchempro.com
