On his second day, while visiting China, French President Macron warned of unfair bilateral trade practices that could lead to protectionism. On his first state visit to the world’s most populous country, Macron took the opportunity to revive cooperation between Paris and Beijing on the global fight against terrorism, climate change, trade and mutual interests between the two countries when it comes to Africa.
Over concerns of France’s 30 billion Euros trade deficit with China, trade relations dominated the purpose of Macron’s visit. Among his delegation visiting China, are some 60 business execs of French companies such as Airbus. Louis Vuitton, Areva etc.
Having met with China’s President Xi Monday, Macron took the evening to highlight that both countries would entangle themselves in a lose-lose position if restrictions on foreign firms. As the EU and France have placed embargoes on some Chinese made products. Despite the growing threat of Chinese unfair trade practices and expansionism, President Macron said ”Let’s open up both instead”, hoping to close trade deals, in aerospace, nuclear and agri-food sector.
The Paris-based Pompidou Centre, the world’s second-largest art gallery signed a deal to launch a franchise museum in Shangai as announced by President Macron. BNP Paribas, French banking titan is poised to set up a partnership with a certain Chinese consumer credit. French engineering company Fives and China’s retailer JD.com agreed to deliver some 2 billion Euros worth of French goods; such as Evian water and Remy Martin Cognac throughout next year.
Neba Benson,
BaretaNews Foreign Correspondent/Analyst
