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MIL OSI Translation. Region: Germany / Deutschland –

Source: CDU CSU

12/30/2020

Investment agreement sets the framework for better trade relations

After seven years of negotiations, the EU and China have agreed on political principles for an investment agreement. The deputy chairwoman of the CDU / CSU parliamentary group, Katja Leikert, explains:

“The CDU / CSU parliamentary group welcomes the agreement in principle between the EU and China on an investment agreement. The agreement is also a great success of the German Council Presidency, which mediated between the member states to the end and thus advanced the negotiations.

In addition to the fact that our domestic companies will have better chances of investing in the Chinese market in the future, the agreement will also advance the fight against climate change and emphasize compliance with occupational safety standards. When it comes to protecting the environment and the climate, Beijing has reached a level of ambition that comes close to the usual free trade agreements of the EU. For example, China has committed itself to effectively implementing its commitments under the Paris Climate Agreement. That would have been unthinkable a few years ago.

The human rights situation in China is worrying. The investment agreement cannot change that. It would be naive to expect that this could bring about a system change in China. Nevertheless, one must see the improvement of occupational safety standards and the abolition of forced labor promised in the agreement as the positive intermediate steps that they are. These measures will help many people. At the same time, the CDU / CSU parliamentary group will continue to vehemently demand improvements in the human rights situation in China.

The fact that the negotiations with China lasted over seven years makes it clear that the agreement is in no way to be understood as a departure from our transatlantic partnership with the United States. Rather, it can strengthen our European position in the global trading system as an advocate for free trade and occupational safety standards – also vis-à-vis the new US government. “

MIL OSI

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

MIL Translation OSI