July 9, 2018 / 1:47 PM / in 3 months

Merkel says Germany and China committed to multilateral order

BERLIN (Reuters) - Germany and China are both committed to multilateralism and a rules-based global trade order, German Chancellor Angela Merkel said at a joint news conference with Chinese Prime Minister Li Keqiang on Monday.

German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang are seen before signing the treaties at the chancellery in Berlin, Germany, July 9, 2018. REUTERS/Hannibal Hanschke

Speaking after a joint government meeting at which a raft of economic cooperation agreements between German and Chinese companies were signed, Merkel also praised China for opening up its markets to further foreign investment.

“We both want to sustain the system of World Trade Organisation rules,” she said. “But we also discussed market access - you could call it reciprocity,” she added, reflecting widespread concern among European officials that Chinese firms find it easier to invest in Europe than vice versa.

Both exporting powerhouses stand to lose from a looming trade conflict with the United States.

Reporting by Paul Carrel and Michelle Martin, writing by Thomas Escritt

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