The European Union announced that China has agreed to cooperate in tackling the global food crisis, including by exporting fertilizers, after a bilateral meeting on trade, according to Bloomberg.
Senior EU and Chinese officials agreed on “the need to prevent disruptions to supply chains and discussed increasing transparency and sharing information on the supply of certain critical raw materials and other products,” according to an EU statement released after meeting.
The economic and trade talks took place as the EU risks recession due to shortages in energy supplies and other essential goods.
Trade Commissioner Valdis Dombrovskis and Mairead McGuinness, Commissioner for Financial Services, also discussed with Chinese Vice President Liu He, among other things, the EU’s concerns about the lack of a level playing field.
The two sides agreed to improve communication and coordination on macroeconomic policies, according to a statement on the Chinese government’s website. They also agreed to maintain stability in international supply chains, promote and facilitate free trade and investment, and promote fair competition and protection of intellectual property, the statement said.
Source: Capital
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