The official stressed that cooperation was more important than competition between the EU and Asia.

"Growth in Asia will stimulate growth in Europe and vice versa. If Asia grows, it's good news for the rest of the world too," he said.

Currently, 30 projects under the program are being implemented in 15 Asian countries. Nine projects for sustainable consumption and production in such fields as construction, energy, electronics and waste management are being carried out in China.

However, the program faces challenges.

Zhang Jun, vice chairman of the Administrative Commission of Tianjin Economic and Technological Development Area, mentioned obstacles such as the lack of enthusiasm among Chinese SMEs to join an industrial symbiosis and environmental management project in this municipality of North China.

"If 40 companies are notified to attend a meeting, less than half of their CEOs will show up," Zhang said.

The lack of enthusiasm was because joining the project was not obligatory for enterprises, Zhang said. "They have to spend a considerable amount of time working on the project and can not easily see benefits in the short term."