Merkel to discuss with China on European debt crisis and sanctions on Iran

German Chancellor Angela Merkel will discuss with China on issues such as the European debt crisis, sanctions on Iran’s nuclear program during her visit this week.

The newspaper “China Business News” says that in her meetings with Chinese leaders, Merkel will discuss possible solutions for the European sovereign debt crisis as Brussels hopes to address this issue.

The paper stresses that Beijing hopes Brussels recognize China as a market economy, which would reduce the number of complaints of unfair competition.

The Chancellor will visit Beijing on Thursday and Friday, where she will meet with President Hu Jintao and Premier Wen Jiabao and give a lecture at the Chinese Academy of Social Sciences.

The Germanic leader will also address the issue of sanctions against Tehran over its nuclear program, measures that Beijing opposes because of its dependence on Iranian oil.

The newspaper indicates that the Chinese authorities expect this visit to enhance strategic and commercial cooperation and increase mutual investment between the two powers, as well as environmental and renewable energy use.

Trade between China and Germany between January and November 2011 was 131.869 million euros, an increase of 11.1% over 2010, according to Chinese data.

Of this, Germany imported 72.553 million euros from China and exported to the Asian giant 59.316 million euros, so the deficit is 13.238 million euros.

Following Merkel’s visit to China, on February 14 China will hold a summit with European Union, focusing on resolving the crisis in the euro area.