EU ties shouldn’t be damaged by Lithuania’s Taiwan missteps: experts
The EU has reportedly suspended its complaint at the WTO against China over so-called economic coercion of Lithuania, citing “technical reasons.” Chinese experts on Sunday stressed that China-EU economic ties are mutually beneficial, and the EU should commit to maintaining the healthy development of the ties, which should not be “hijacked” by Lithuania’s missteps.
Citing EU trade spokesman Olof Gill, the South China Morning Post reported that “this is a procedural step taken for technical reasons related to the need to assess certain elements arising from the preparation of written submissions.”
The suspension will be for an “indeterminate period of time,” but the bloc has one year to resume the dispute.
In January 2022, the EU filed a complaint with the WTO, accusing China of engaging in discriminatory trade practices against its eastern member Lithuania.
China has always abided by the rules of the WTO, and this is beyond discussion, experts said, noting that it was Lithuania’s wrongdoings on Taiwan-related questions that seriously affected the confidence of enterprises in the two countries to carry out normal cooperation.
The EU filing a complaint at WTO was more of taking a political stance, Hu Qimu, a deputy secretary-general of the digital-real economies integration Forum 50, told the Global Times on Sunday. In returning to real economic and trade issues, the EU, overall, is in greater need of China’s colossal market, Hu said.
The European economy is under significant pressure due to the intense upheavals in the energy market caused by the Ukraine crisis and the Israel-Palestine conflict. Moreover, US interest rate hikes and reshoring initiatives in manufacturing have highly unfavorable effects on both the economic growth and industrial development of EU members, Hu noted.
“The EU should commit to maintaining the positive development of this relationship, which is crucial for the growth of both sides and the overall global economy,” Hu said.