OREANDA-NEWS. September 24, 2012. China and the European Union (EU) issued here on Thursday a joint communique on a stronger comprehensive strategic partnership between the two sides.

The official announcement was released at the 15th China-EU Summit, attended by Chinese Premier Wen Jiabao, Herman Van Rompuy, president of the European Council, and Jose Manuel Barroso, president of the European Commission.

In the document titled "Towards a stronger China-EU Comprehensive Strategic Partnership," leaders of the two sides reached understandings and consensus on a broad range of issues.

On the China-EU Comprehensive Strategic Partnership, both sides were determined to continue to develop the partnership to further increase its strategic dimension and bring China-EU cooperation to a higher level.

As crucial actors in advancing peace, prosperity and stability, China and the EU would redouble their joint efforts to tackle global challenges such as the international financial and economic crisis, sustainable development, environmental protection, climate change, food and water security, energy security and nuclear safety, the communique said.

Reconfirming the important roles of the annual summit as well as the China-EU High Level Strategic Dialogue, High Level Economic and Trade Dialogue and High Level People-to-people Dialogue, in guiding and advancing China-EU relations, they committed to further improving and strengthening these regular mechanisms.

Both sides emphasized the importance of accommodating each other's concerns for furthering the overall relationship by taking a strategic perspective. They agreed that, where differences remained, they should be discussed and handled in a spirit of mutual respect and equality.

On the economy, trade and investment, the summit leaders reconfirmed both sides' commitment to launching negotiations for a China-EU Investment Agreement as soon as possible to promote and facilitate investment in both directions, thus resulting in an additional source of growth and employment.

Negotiations towards this agreement would include all issues of interest to both sides, without prejudice to the final outcome. They agreed to intensify discussions at a technical level in preparation for future negotiations.

The two sides stressed that particular importance should be given to working for the resolution of the Market Economy Status (MES) issue in a swift and comprehensive way.

On bilateral cooperation, the two sides agreed to establish an annual comprehensive Innovation Cooperation Dialogue and welcomed the signing of a joint declaration outlining the goals and objectives of the new dialogue.

They expressed common willingness to enhance cooperation in the field of space technology, and in the civil aspects of their respective Global Navigation Satellite Systems (GNSS) on the basis of the existing framework.

Welcoming the results of the first meeting of the China-EU Cyber Task-Force, the two sides decided to continue exchanges on cyber issues of concern to either side to increase mutual trust and understanding.

On global issues, China and the EU support the G20, as the premier forum for international economic cooperation, in playing a greater role in global economic governance.

The two sides agreed to intensify communications and coordination and make joint efforts to implement the agreements of the G20 Los Cabos Summit, including the Growth and Jobs Action plan.

With a view to restoring market confidence and fostering financial stability, they expressed willingness to work together within the G20, the International Monetary Fund (IMF), and the World Bank to improve global economic governance.

The two sides reaffirmed their determination to implement all their G20 commitments as scheduled, including in the areas of the global economy, financial regulatory reform, the increase of IMF resources and the reform on the quota and governance of the IMF.

The two sides also support the Financial Stability Board's work on financial regulatory reforms.

At the summit, Premier Wen outlined a four-point proposal for the development of China-EU relations.