New EU ambassador to China looks to the potential of youth

By Li Ying

Newly appointed European Union (EU) Ambassador to China, Markus Ederer, Monday made his first public appearance to the media in Beijing for the 2011 EU-China Year of Youth.

Ederer paid tribute to the role that China played when Europe was mired in recession.

"China is the country that has contributed the most to pulling the world out of recession and thereby helped Europe bring growth back to its economy," he said. "So, in today's international relations, this relationship with China is the most prominent one we have."

Beijing vowed to buy about 6 billion euros ($7.9 billion) worth of Spanish public debt and inked contracts topping $5 billion with German car giants Daimler and Volkswagen during Chinese Vice Premier Li Keqiang's three-nation trip to Europe early last month.

At the same time, Britain and China have signed trade deals worth 2.6 billion euros ($4 billion), including a deepwater exploration agreement in the South China Sea between BP and the China National Offshore Oil Corporation.

Last month, China bought 1 billion euros ($1.3 billion) worth of Portuguese debt in a private placement at above the market rate of interest, according to the Portuguese Jornal de Negócios.

Ederer also pointed out that strengthening common values was key to building mutual trust between the EU and China.

"In both of our cultures, we want young people to lead a better life, to get the best education and speak their mind and communicate, and that is what this program builds on," Ederer said, referring to the Year of Youth.

The 2011 EU-China Year of Youth is the first official youth exchange program between the EU and China.

"If this (EU and China) relationship is important to both of us, we have to make sure the future of this relationship is stable from a very early stage," he said. "The youth are the future leaders."