The World Trade Organization (WTO) released a statement on 15th July 2011 in Geneva that the European Union (EU) was illegally taxing steel fasteners originated from China. The Chinese ambassador to WTO showed welcome to this statement saying “this is not only a victory for Chinese fastener enterprises but also for the WTO as well”.

ChinaFastener Magazine interviewed Mr. Feng Jinyao, president of China Fastener Industry Association on the case that China won its victory against EU on the trading dispute of fastener. 

China Fastener Association, on behalf of Chinese fastener enterprises, showed welcome and support to WTO’s ruling; meanwhile, appreciated the Ministry of Commerce (MOC) for its consistent endeavor to defend free trading and fair competition. MOC won a remarkable victory for Chinese industries.

Mr. Feng Jinyao stated that China Fastener Association had written a public letter to the council of EU, strongly requiring the EU withdraw the discriminational antidumping measures against Chinese fasteners.

Mr. Feng Jinyao pointed out that Chinese fastener industry has been sustaining losses in recent two years due to EU’s unfair treatment to Chinese export enterprises, which heavily affect the normal trade between Europe and China and cause irretrievable losses to the EU’s market. None of the above results will the manufacturers and distributors in both Europe and China expect to see. From now on, the EU cannot adopt any measure against WTO’s ruling on Chinese enterprises. This will be helpful in improving the Chinese trading circumstance, especially in the aspect of competition and development of fastener industry in international market. It also sets a good sample for the enterprises in other fields involved in antidumping cases.

Mr. Feng Jinyao emphasized that the EU is the major market for Chinese fasteners; it would be beneficial for both parties to correctly treat trade friction and defend fair trade. The abuse of protective measures in trade cannot help in solving any problems. That the increasing mutual understanding, impartial treatment on Chinese fastener enterprises, the guarantee of free trade and fair competition through dialogue and communication will be propitious to develop long-term benefit for the European and Chinese fastener industry.

In the end, Mr. Feng Jinyao hoped the dialogue and communication of fastener industry between Europe and China will be strengthened in the future to deepen mutual understanding and keep commercial partnership in the healthy, mutual benefited and cooperative win-win track.