00:00Carlo Diego D'Andrea is chairman of the Shanghai Chapter at the European Union Chamber of Commerce in China.
00:08It's very important that there was this meeting with Seković and Wang Wen Tao earlier last week.
00:15It's very important that the dialogue is keep on going between the two trade blocs.
00:22And also the outcome of this meeting was even better than what we were hoping at the beginning.
00:30And this is the third time that they are meeting so far.
00:35And this is the second time there is a joint statement between EU and China on this point.
00:41And you have seen that some progress have been made during this dialogue.
00:47What does the understanding on hybrid car exports actually change for the European car industry?
00:56You see, when you have a dialogue and when the two trade partners can talk about it, some good can
01:03happen.
01:04And of course, this is of the automotive sector.
01:08It's one step in the right direction.
01:11Rare earths remain a key pressure point in China-EU trade.
01:16How much reassurance does this latest commitment give European businesses?
01:24This was a point also discussed during the meeting.
01:27And we are happy to know that because like a couple of weeks ago, there was the meeting between Xi
01:34and Trump,
01:35which extends over two months the Busan agreement and which is a good step.
01:41What do we need to understand, which is the clarity on the procedure?
01:46The EU is looking at tougher trade defence measures.
01:50How can Brussels and Beijing protect their economic issues and interest without adding to trade tensions?
01:59I would say that Europe is looking more to have a toolbox in order to be used when there are
02:10companies coming from third country
02:13that try to create a distortion in the internal market.
02:16This is the right approach that we are seeing the relationship between EU and China.
02:20Europe is trying to safeguard the autonomy of some industries and especially the economic security of Europe itself.
02:30It's something that China is doing since many years.
02:32It's a self-reliance from the part of China.
02:36Instead, regarding to Europe, we are looking more on diversification.
02:40And in case there are some distortions that are not in line with the rules,
02:46then we have a toolbox that will help to address this.
02:49It's not that we are becoming more protectionist.
