BenCham at EU-China Free Trade Agreement Conference

On November 29th, The Benelux Chamber of Commerce in China was invited by the EU Based Foreign Trade Association (FTA) to participate in a conference about the EU-China Free Trade Agreement. The conference was held in partnership with China Council for the Promotion of International Trade (CCPIT).

The potential benefits for European jobs and growth of an EU-China Free Trade Agreement are underestimated, according to a study presented during the EU-China Partnership Conference. The study, which FTA commissioned to the Centre for European Policy Studies (CEPS) revealed that an EU-China trade deal would increase by US$200 billion the combined GDP of the EU and China by 2030.

FTA also commissioned CEPS, a leading Brussels think-tank, to carry out an independent impact assessment of a possible EU-China free trade agreement. The report comes to the conclusion that all 28 EU Member States and China would considerably win from such an undertaking.

In the panel discussion, the BenCham, together with speakers representing the Foreign Trade Association, the Chinese government (MOFCOM), business people and academia discussed the impact and feasibility of a possible EU-China Free Trade Agreement.

During the discussion, many different points of views were shared. Most of the panel's members agreed that the EU and China should first understand each other's cultures and be patient better before proceeding with the FTA. When this has happened the FTA will be a positive development for the EU as well as China.