Chinese Premier Wen Jiabao (C), European Council President Herman Van Rompuy (L), and European Commission President Jose Manuel Barroso (R) attend the 14th China-EU summit at the Great Hall of the People in Beijing, capital of China, Feb. 14, 2012. (Xinhua/Ma Zhancheng)

Leaders of China and the European Union (EU) on Tuesday underscored the importance of beefing up economic and trade cooperation in the context of the stagnant world economy.

The call came from the 14th China-EU summit in Beijing, which was attended by Chinese Premier Wen Jiabao, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso.

"It is currently the most urgent task for China and the EU to enhance economic and trade cooperation," Wen said at a press conference after the summit, during which he raised a five-point proposal to the EU side in this respect.

He suggested that the two sides should expand mutual investment, promote the balanced and sustainable development of bilateral trade, strengthen cooperation on scientific research and innovation, deepen energy and environmental protection cooperation and advance the partnership in urbanization.

Wen pointed out during the summit that with the global financial crisis still affecting the world in terms of politics, economics and security, it is the current trend for each nation to promote reform and widely participate in international cooperation.

Wen proposed strengthening China-EU cooperation with the following five points.

First, the two sides need to expand the bilateral trade scale. China is willing to import more products from the EU and promote balanced trade. China hopes the EU will relax its export control against China, carefully use trade remedy measures and create a favorable environment for the stable development of bilateral trade.

Second, the two sides should launch negotiations on a two-way investment agreement as soon as possible, so as to "lay a legal foundation for the expansion of bilateral investment" and consolidate the confidence of investors.

China welcomes European enterprises to invest in the Chinese market, Wen said, noting that China will continue to expand market access for EU enterprises, improve laws and regulations on foreign investments, enhance intellectual property rights (IPR) protection, and optimize the investment environment.

He also called on the EU side to maintain market openness and facilitate project examination and approval procedures, personnel exchanges, policy consulting and information exchanges.

Third, the two sides should strengthen cooperation in scientific research and innovation, particularly in areas of space technology and energy technology.

Fourth, China hopes to hold a high-level China-EU energy conference to determine priorities for cooperation.

Wen also said China and EU should launch new projects in environmental protection and the development of electric auto vehicles.

Fifth, on the issue of urbanization, the two sides should cooperate in areas of city planning, smart transportation system, building energy efficiency and garbage disposal.