The European Union and China concluded negotiations for a Comprehensive Agreement on Investment on Wednesday.The meeting was a follow up on the 22nd EU-China Summit held in June.
China committed to give a greater level of market access for EU investors including some new important market openings and commitments such as the elimination of quantitative restrictions, equity caps or joint venture requirements in a number of sectors.EU President Ursula von der Leyen China also agreed to provisions on sustainable development, including commitments on forced labour and the ratification of the relevant ILO fundamental Conventions.
The cumulative EU foreign direct investment flows from the EU to China over the last 20 years have reached more than €140 billion. For Chinese FDI into the EU the figure is almost €120 billion. EU FDI in China remains relatively modest with respect to the size and the potential of the Chinese economy.
Access to market commitments by China include manufacturing, the automotive sector, financial services, health and biological resources. “It will provide unprecedented access to the Chinese market for European investors, enabling our businesses to grow and create jobs.”
Thanks to Trump, I guess
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