In 2005, bilateral trade between China and Luxembourg topped US$2.1 billion, surging 109 percent year on year, Chinese Minister of Commerce Bo Xilai said recently when meeting with Deputy Prime Minister and Minister of Foreign Affairs of Luxembourg Jean Asselborn.
Bo spoke highly of Luxembourg's support on fair trade and its prudent stance on the footwear antidumping issue between the European Union and China.
Most of China's shoe manufacturers are privately-owned or joint ventures, and they base their production and exportation entirely on market economy rules, he said.
The European Union should avoid trade protectionism measures so as not to affect the general development of Sino-EU trade relations, he said, hoping Luxembourg will continue to play a positive role.
A few years ago, trade between Luxembourg and China was only around US$100 million, and the recent growth rate is amazing, said Asselborn.
Luxembourg fully understands China's concerns about its shoe exports, and will continue to pursue the principles of free and fair trade, he said.
Thanks to the joint efforts of China and the European Union, the two sides successfully solved their textile trade dispute last year, he said, expressing confidence that the shoe issue can be suitably resolved by the two sides.
(Xinhua News Agency January 26, 2006)
