Patten expresses EU concern over trade deficit with China

BEIJING (AFX-ASIA) - Chris Patten, the external affairs commissioner for the European Union, has told Chinese Foreign Trade Minister Shi Guangsheng the EU is concerned about its growing trade deficit with China. 

"I pointed out that ... while we are not in the business of seeking a trade balance with every one of our trade partners, there were particular concerns in relation to China because of the tariff and non-tariff barriers to trade into China," Patten told Agence France-Presse.

The EU trade deficit with China rose about 50 pct to reach 44.4 bln euros  last year, nearly half of the total trade volume between the two of 95 bln euros.

Patten told Shi the EU would like to see speedy Chinese accession to the World Trade Organisation to help dismantle some of the trade barriers that the EU sees as part of the reason for its deficit.

"The way of reducing it is by removing through WTO accession some of the barriers to European exports," Patten said.

"There is increased concern that there should be progress as rapidly as possible on Chinese accession to the WTO," he said.

Patten declined to say if Shi had made any commitment to bring down the deficit prior to accession to the WTO.

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