(Yicai) Nov. 7 -- The European Union and China need to engage in dialogue on the issue of the additional import tariffs the EU recently slapped on China-made electric vehicles to discover if they can find a solution, according to Finland’s president.

“I hope that there will be communication between Brussels and Beijing to see if they can still solve this,” Alexander Stubb told Yicai during a four-day state visit to China from Oct. 28 to 31.

As an EU researcher and expert, Stubb said that he is not in favor of decoupling from China. “My take is that the EU needs to also have its door open to China,” he said.

China strongly opposes the new countervailing duties the EU imposed, which came into effect on Oct. 30, arguing that they are unfair, unreasonable, and contravene World Trade Organization rules. The tariffs -- ranging from 7.8 percent to 35.3 percent on top of the EU's standard 10 percent auto import duty -- are set to remain in place for five years.

Finland abstained in both rounds of EU voting on the issue. Stubb said that as an EU member, Finland has the right to vote but cannot make the ultimate decision. Geopolitical factors have also affected trade relations between China and Europe, he noted.

However, the relationship between the EU and China is not all bad, as EVs only account for 2 percent of China-EU trade, Stubb pointed out. China has been Finland's largest trading partner in Asia for 21 consecutive years, and Finland is China's third-largest trading partner in the Nordic region.

Finland’s approach to China has not changed, Stubb said. The two countries have had diplomatic relations for 74 years and trade relations for more than 70 years. The relationship between the two countries has always been based on trust and equality, he said.

A large green investment -- a sustainable or environmentally responsible investment -- from China into Finland will be announced soon, Stubb divulged. There are also two other potential green investments under discussion, he added.

Stubb attended the 2024 China-Finland Sustainable Development Summit in Shanghai on Oct. 31, where over 40 Chinese firms and 25 Finnish companies from a wide range of sectors, including green technology, green transition, biotechnology and cleantech, participated.

“I believe in dialogue, in understanding, and in discussion,” Stubb said. “So I wanted to come here to learn, to reflect, to think, and then take this information back to Europe and explain what's going on.”

A joint action plan between China and Finland on ‘Promoting the Future-oriented, New-type Co-operative Partnership 2025-2029’ was released during Stubb’s visit, China’s Xinhua News Agency reported.

Editor: Kim Taylor