Stable business rules crucial to enhance trust in Sino-European co-op

ROME - Stability in business rules and the legal environment would help enhance mutual trust in the Sino-European economic cooperation, a senior Italian official recently has said.

"When we speak about trust (in business), I think the rule of law and the possibility to have the same rules for Chinese entrepreneurs here in Europe, and for Europeans in China are key points," former Italian Prime Minister Enrico Letta told Xinhua in an interview.

Letta made his remarks on the sidelines of a meeting on the theme "Building a healthy Sino-European Economic Future" held last Saturday in Rome, which included a delegation of prominent business leaders from the Chinese Entrepreneur Club (CEC) and top Italian officials.

Several topics concerning Sino-Italian and Sino-European cooperation were discussed during the roundtable, including the need to improve reciprocal understanding.

"We need to build more trust among European and Italian entrepreneurs, and make them know that the rule of law (in China) is stable, and there is the possibility to invest," Letta told Xinhua.

"Of course, we are engaged to do the same in Italy and in Europe: we want to attract Chinese investments, and we want to offer them stable rules without the risk of changes or problems."

Cooperation deals between governments are crucial to enhance mutual trust, but the pro-active role of business groups such as the CEC or the European House Ambrosetti in Italy would be just as much relevant to the goal, according to the former Premier.

Italy's Prime Minister from April 2013 to February 2014, Letta has long been a member of the Italian and European parliaments, and also served as Italian minister for EU affairs and minister for industry and commerce in the 1990s and early 2000s.

Currently, he is the new dean of the Paris School of International Affairs.

The senior official also recognized the Chinese government's efforts to promote a more sustainable development.

"We do have the perception of very good achievements and plans (in this direction), and we want to encourage Chinese authorities to continue in this kind of effort, because it is absolutely decisive," Letta said.

Concerning Italy, Letta said the country was most keen to attract more Chinese capital.

"First of all we need investments in infrastructure, which today is one of the key points (for Italy) especially in the south," he explained.

"We need investments in tourism, and we also need financial participation in innovative and creative start-ups and new companies. I think we could have very positive joint results if we work together in these fields".