The European Union should reconsider the negotiation of the EU-China Comprehensive Agreement on Investment with China to replace the current tariff negotiation for mutual benefits, said a former minister of science and technology on Wednesday.

Wan Gang, president of the China Association for Science and Technology, said: "As the EU and China agreed to sit down to negotiate on the new energy vehicle tariff dispute, it is an opportunity for both sides to renew the negotiation of the CAI. If so, the tariff is no longer necessary for EU."

The Comprehensive Agreement on Investment, or CAI, was set to facilitate trade and investment between European and Chinese companies and was set aside by the EU in 2021.

"It is now necessary for the two sides to negotiate properly to together move forward towards economic globalization," said Wan, who is also former minister of science and technology.

Wan made the comments at a session co-held by Caijing Magazine during the ongoing 15th World Economic Forum Annual Meeting of the New Champions, also known as the Summer Davos Forum, held in Dalian, Northeast China's Liaoning province.

Amid rising protectionism from United States and Europe in new energy sector, Wan emphasized that developing NEV is a "common consensus" from all over the world.

"Such a trend is unstoppable. China will not slow down developing NEVs just because of some twists and turns. Instead, the country would still do its job well in a down-to-earth manner," he said.