China is ‘open’ to TTIP if it is open

Beijing, Feb 17 (IANS) China “takes an open attitude” toward the Transatlantic Trade and Investment Partnership (TTIP), a trade deal being negotiated between the European Union and the US, so long as it is “open and transparent”, a Chinese official said on Wednesday.

China has been paying attention to TTIP negotiations, and it has an open attitude toward any free trade agreement on global trade liberalisation and regional economic integration so long as it sticks to the principle of openness and transparency, Shen Danyang, spokesman of the Ministry of Commerce, said at a press conference here.

“China holds that free trade deals in all regions and of all types should be transparent, open and inclusive, and be conducive to promoting the well-being of people all over the world. This is also applicable to our attitude toward the TTIP,” Shen added.

The EU and the US, accounting for 47 percent of global economy, 28 percent of international trade and 53 percent of foreign investment, have conducted 11 rounds of TTIP negotiations covering fields including market access, the service sector, investment and IPR.

“We noticed that the two sides still have differences in a number of areas such as goods trade, service trade, investment and regulatory compatibility. Therefore, it is just something natural for the sides to speed up negotiations for substantial progress,” he added.

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