Trade ties with China could turn Slovenia into next European innovation hub: Slovenian official

Slovenia's Economy Ministry official highlighted that the country desires to deepen trade and investment ties with China while attending the ongoing 4th China-Central and Eastern European Countries (CEEC) Expo and International Consumer Goods Fair in east China's Ningbo.

Matevz Frangez, State Secretary of the Ministry of the Economy, Tourism, and Sport of the Republic of Slovenia, said in an interview with China Global Television Network (CGTN) on the sidelines of the expo that Slovenia is positioned both geographically and economically as a prime partner for facilitating Chinese trade with Europe.

"I'm pretty much sure that the Slovenian economy, with its advantages, highly innovative, complex, automated, the digitalized and robotized economy, can prove itself with its products, also on the demanding Chinese market. Slovenia is a country in the heart of Europe. It is the best possible entrance to the European market because it provides the best and shortest gateway for shipping from China to Europe, from Europe to China. We would like to enhance and evolve ourselves into the next European hub for innovation of advanced and sustainable technologies," he said.

The minister also underscored the significance of China-CEEC cooperation in fostering economic ties.

"I think that the China-CEEC mechanism is already the best possible tool to see where are untapped potentials, how we can bring Slovenian small, medium enterprises to the China market, and it provides the tools and support in order to do so. Our strong biopharmaceutical industry that presents nearly a third of our exports, because we import a lot of medical substances from China. We saw a great growth of Chinese exports to Slovenia. In just five years, it multiplied by five," said Frangez.

In addition to medicine, Frangez shared Slovenia's aspirations to build partnerships with the rapidly growing Chinese EV market.

"We met with a lot of companies these days from the emerging Chinese automotive sector. We don't hide the ambition to localize a portion of Chinese EV production in Europe, in Slovenia. In that sense, we are in communication with several of the Chinese automakers, but also, we would like to bring Slovenian automotive industries, Slovenian suppliers, tested throughout the decades of collaborating with the European automotive industry, to China," he said.

Held in Ningbo, east China's Zhejiang Province, from Thursday to Sunday, the exhibits at the expo include over 8,000 products from Central and Eastern European countries and a variety of Chinese consumer goods for exports.

Under the theme "New Visions for the Future", the four-day event features business matchmaking sessions, investment promotion and cultural exchange activities alongside an 80,000-square-meter trade exhibition.

Trade ties with China could turn Slovenia into next European innovation hub: Slovenian official

China and the European Union (EU) have agreed that it is necessary to provide general guidance on price undertakings for Chinese exporters of passenger battery electric vehicles to the EU, China's commerce ministry said on Monday.

The move aims to address relevant concerns in a more practical, targeted, and consistent manner with World Trade Organization (WTO) rules, according to the Ministry of Commerce in a statement.

Accordingly, the European Commission will issue a Guidance Document on Submission of Price Undertaking Offers. In the document, the EU confirms that it will assess each undertaking application under the same legal criteria, in accordance with the principle of non-discrimination and relevant WTO rules, in an objective and fair manner.

The progress fully reflects the spirit of dialogue and the outcomes of consultations between China and the EU. It shows that both China and the EU have the ability and willingness to properly resolve differences through dialogue and consultation within the framework of WTO rules, thereby maintaining the stability of automotive industrial and supply chains in China, the EU, and the whole world. This is conducive not only to ensuring the healthy development of China-EU economic and trade relations, but also to safeguarding the rules-based international trade order, the statement said.

On the same day, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) also issued a statement welcoming the positive outcome of the consultations.

The CCCME noted that eligible Chinese EV makers may now submit price undertaking applications in accordance with the EU's guidance, and the European Commission has pledged to review all applications objectively, fairly, and under uniform standards.

The proper settlement of this case meets the shared expectations of industries along the EV supply chain in both China and Europe. It will help ensure the security and stability of related industrial and supply chains and safeguard the broader China-EU economic and trade relationship, the CCCME said.

The chamber expressed appreciation for the substantial efforts made by China's Ministry of Commerce in defending the interests of the domestic industry. It also pledged to encourage and support relevant Chinese enterprises in making full use of the consultation outcomes to protect their interests in exporting to the EU and promote healthy cooperation between the industries of both sides.

China, EU agree on price undertaking guidance for Chinese electric vehicle exporters: commerce ministry