European Union will begin investigation to see if China is denying access to medical device market

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 87%

Business News News

Business Business Latest News,Business Business Headlines

The European Union is set to investigate whether China is unfairly limiting and depriving certain companies in Europe access to the Chinese medical market.

The European Union announced on Wednesday an investigation into whether China is using unfair methods to deprive companies in Europe of access to its market for medical devices ranging from hypodermic needles to high-tech scanners. The probe launched by the European Commission — the EU’s executive branch as well as its trade and competition watchdog — is the latest attempt to help companies gain the kind of access to China’s vast markets that Chinese firms enjoy in Europe.

We are launching this investigation with China so that we can achieve a level playing field in our procurement markets for producers of medical devices, on both sides,' he said. 'Regrettably, our repeated discussions with China on this trade irritant have been fruitless.' Should it fail to resolve the issue, Brussels could restrict the access of Chinese buyers, goods and services to the EU market.

But China’s foreign ministry said the EU move smacked of protectionism. 'The EU has always touted itself as the most open market worldwide, but what we see now is that it is gradually moving towards protectionism,' ministry spokesman Wang Wenbin said. 'We urge the EU to adhere to its commitment to the open market and the principle of fair competition, abide by WTO rules, and stop unwarrantedly suppressing and restricting Chinese companies on various pretexts,' he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beyond Capital: The European Investment Fund's Blueprint For A Thriving European Venture EcosystemSerial technology entrepreneur with 10+ years of experience building scalable tech ventures; leading product and development teams, selling to and co-developing products with Fortune 100 customers, raising capital from global professional investors.
Source: ForbesTech - 🏆 318. / 59 Read more »