The European Union (EU) and China agreed on Thursday to boost cooperation in developing modern knowledge-based biotechnology economy.

"We are both very interested in looking for solutions that lie in the life sciences and biotechnology, because these are sustainable solutions that can help us find a balance between the needs of our economies and our environment," said an EU-China joint statement issued at a conference on biotechnology economy.

At the same time of the two-day gathering in Brussels on biotechnology economy, a conference on the same topic was held in the Chinese capital of Beijing.

The document, made by EU Science and Technology Commissioner Janez Potocnik and Chinese Science and Technology Minister Xu Guanhua, highlighted the importance of biotechnology economy.

"We may learn together and help one another as we seek to find a new way forward to the biotechnology economy of the future," the document said.

The biotechnology economy covers the management, production and use of biological resources such as food, feed, fiber and fuels.

According to the EU's executive arm, the European Commission, a number of technology platforms have been created recently to identify the strategic challenges for these industries.

(Xinhua News Agency September 16, 2005)