The China Association of Automobile Manufacturers (CAAM) issued a statement on October 14 regarding the consensus reached between China and the European Union on the trade of hybrid and electric vehicles. The agreement was finalized following intensive consultations held under the trade and investment negotiation mechanism.
The CAAM expressed support for the results of these discussions, emphasizing that both parties adhered to principles of mutual respect and equal consultation. The consensus is based on three core pillars: adherence to facts, non-discrimination, and compliance with World Trade Organization (WTO) multilateral rules.
The association noted that the automotive industry faces significant challenges, including rising global trade protectionism and policy barriers. By choosing dialogue over confrontation, China and the EU aim to stabilize industry expectations, ensure the security of supply chains, and protect the interests of consumers and manufacturers.
Looking ahead, the CAAM intends to continue its role as a bridge for industry communication. The organization supports further efforts to implement the reached consensus and resolve remaining differences, aiming to maintain an open and fair international trade environment for the global automotive sector.
