China and the European Union (EU) reached an understanding on hybrid vehicles on Friday, as the commerce chiefs of both sides concluded talks and agreed to strengthen dialogue.
The Commerce Ministry said that both sides agreed to adhere to “procedures concerning company price undertakings” of hybrid cars.
Both sides will keep exploring the possibility of lowering tariffs on certain goods within the framework of WTO rules, and continue their dialogue on market access for medical devices, the ministry said.
It added that the discussions between Commerce Minister Wang Wentao and his EU counterpart Maros Sefcovic in Beijing on Thursday and Friday were pragmatic and productive.
The two sides were committed to maintaining trade, and to hold a further meeting in March. (AFP/Reuters)