Sunday, May. 20, 2012 |
EU says China may become its biggest market in 2012
Page last updated at 06:16 GMT, Tuesday, February 7, 2012 - 11:16 EST
AFP:
German Chancellor Angela Merkel was in China for a three-day trip aimed at boosting her hosts' confidence in Europe
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The EU ambassador to China said Monday the Asian powerhouse could become Europe's biggest export market this year, overtaking the United States, as Beijing boosts domestic demand.
His comments come after Premier Wen Jiabao said China was considering helping the crisis-hit eurozone by contributing to regional bailout funds, and that a stable Europe was crucial for Beijing.
"There are indications that in 2012, China may become Europe's biggest export market," Markus Ederer told reporters in Beijing.
"European exports are growing at a higher pace than European imports from China," he said, adding the forecast was based on current trade trends. He gave no concrete figures.
The European Union has long been the biggest market for Chinese goods, and trade between the two grows every year, reaching $567 billion in 2011.
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