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Europe looking for two way street with China

Europe looking for two way street with China

(25 October 2006 – Europe/China) The European Commission trade chief Peter Mandelson has told China it must allow more foreign investment in the country and improve labour and environmental standards. Mandelson, a former British government minister, said trading between China and Europe needed to be a "two way street" and that barriers to entry for foreign companies needed to be lowered.

"China’s growing trade muscle means growing expectations. China must fulfil its WTO obligations and commit to trading fairly," he said.

The level of Trade between Europe and China doubled over the past five years, and China has made progress on being given Market Economy Status by the European Union on the proviso it continues its reforms.

Market Economy Status would help Chinese exporters avoid anti-dumping tariffs.
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