Trade between China and the European Union for the past five decades have delivered great mutual benefits, said Adam Dunnett, secretary general of the European Union Chamber of Commerce in China (European Chamber), as he eyes another 50 years of cooperation between the two sides.
This year marks the 50th anniversary of the establishment of diplomatic ties between China and the EU.
In a recent interview with the China Global Television Network (CGTN), Dunnett highlighted the extraordinary progress made in economic and trade relations between China and the EU over the past 50 years and expressed his expectations for the future development of these relations.
"Fifty years is a very long period of time, particularly the last 50 years. I think the changes we've seen in China are unprecedented in history. We've seen just so much incredible progress. China is now the world's second largest economy. EU has also grown significantly in that period and prospered from that relationship. The EU has invested in China well before that period. But at that time, the trading relationship was not nearly on level with what it is today. Back then, we were trading approximately 2.4 billion euros a year. We now do that a day. And today, China is a very strong leader in a lot of advanced manufacturing technologies. European businesses continue to play an important role in the economy here," he said.
"And now we're entering a new period where China is this massive exporter to the world, producing products in high demand in Europe and elsewhere, contributing to innovation and now investment as well in Europe and around the world. So, this relationship, it's completely changed in the last 50 years. It's probably going to change a lot more in the next 50 years as well," said Dunnett.
European Chamber chief on 50 years of China-EU trade
