Thursday, February 16, 2012

EU trade chief pressures China over procurements

HONG KONG (AFP) - China is protecting a domestic market for public procurements worth US$1.1 trillion (S$1.4 trillion), European Union (EU) Trade Commissioner Karel De Gucht said on Thursday as he appealed to Beijing to open up further to global trade.

Mr De Gucht dismissed fears of an escalating trade war with China but said people around the world were sceptical of Beijing's commitment to a rules-based global trade system, undermining faith in free markets everywhere.
He cited the World Trade Organisation's (WTO) recent ruling that Beijing's limits on key raw material exports broke its international obligations, and China's massive but tightly restricted market for domestic government contracts.
'No country more than China has benefited more from the current framework,' Mr De Gucht said in a speech in the southern Chinese city of Hong Kong.

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