INTENSIFIED COOPERATION AT UPCOMING SUMMIT
On the upcoming G20 summit in Antalya, Renard said the EU and China are expected to intensify cooperation on a variety of issues regarding global governance.
"Economic issues will be important, as always in G20 meetings. The EU and China have a lot to bring in debates about growth, trade and investment -- separately and together," he said.
He added that the EU and China have both developed their own "investment plans", the so-called Juncker Plan in Europe and a number of domestic initiatives in China, in addition to the more international Belt and Road Initiative and the Asian Infrastructure Investment Bank (AIIB).
"Many EU countries have already joined the AIIB, whereas China has announced that it will support the 'Juncker Plan'," Renard said. "Overall, China and the EU are likely to continue exploring possible avenues for further cooperation on cross-investment."
In this context, and in relation to broader discussions on the multilateral agenda, Renard thought that the EU and China may lay out their own trade objectives, which are distinct, but could lead to a bilateral agreement on investment.
As for the upcoming global climate talks in Paris, Renard said climate change will be another hot topic at the summit.
"The G20 offers an ultimate chance to polish up positions and create the political support for an ambitious climate deal. In this context, the hopes are high that China and Europeans can work together towards a good deal," he added.
FUTURE OPPORTUNITIES FOR COOPERATION
Experts believed that there is potential in many areas for China and Europe to further strengthen coordination and cooperation on global governance in the future within the G20 framework.
Taking China and Germany as an example, Chinese Ambassador to Germany Shi Mingde pointed out that the two countries, both as G20 members, have common or similar positions on global economic governance and major international economic and financial issues, and have maintained close cooperation and coordination with each other.
"China and Germany would further strengthen coordination in macroeconomic policy within the G20 framework, and work together to construct and maintain an open world economy as well as to promote the establishment of a more equitable global economic governance system," he said.
In the opinion of Schmucker, China and Germany could cooperate, above all, on issues such as climate change, Doha negotiations and financial market regulation.
"China is participating very actively and constructively in the negotiations of the climate change conference to be held in Paris. Climate is an issue that Germany always attaches importance to," she said.
She expressed her belief that both sides can expand this topic after the Paris conference -- also within the framework of the G20.
Another important area is the Doha Round talks of the World Trade Organization (WTO). As one of the big players in trading, China, together with Germany, can give the WTO an important boost in the next two years, said Schmucker.
"German Chancellor Angela Merkel is also very interested in the implementation and expansion of financial market regulation, particularly for shadow banks. This is also an important issue for China," she said, adding that both sides can work together successfully in this field.
