MIL OSI Translation. Region: Germany / Deutschland –
Source: Federal Ministry for Economic Affairs and Energy
12/30/2020 – Press release – Trade Policy
The EU and China today politically sealed the conclusion of negotiations on a comprehensive investment agreement. This brought the negotiations that began in 2013 to a successful conclusion. Federal Minister Altmaier: “The investment agreement between the EU and China is a milestone in trade policy. After almost seven years of negotiations, the breakthrough came today. This is a great success and at the same time an expression of European unity and unity. The agreement regulates mutual market access for European and Chinese companies and creates a new transparency in economic relations between China and the EU. For European companies, the agreement means more market access and more legal security as well as a better competitive environment in China. ”The EU-China investment agreement is a trade agreement that is primarily intended to strengthen the rights of foreign investors. As part of the negotiations, the EU was able to achieve comprehensive improvements in market access for EU companies in China in the areas of financial, telecommunications, environmental, health and logistics services, but also in the industrial sector, such as e-mobility. In addition, rules could be agreed for more competitive neutrality with a view to Chinese state-owned companies, for more subsidy transparency and against involuntary technology transfer. At the same time, China has made the market opening measures it has taken since joining the WTO in 2001 binding on the EU under international law. This creates further legal certainty. Important progress was also made in the area of environmental and social standards, particularly with regard to the implementation and application of multilateral agreements.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.