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The Completion Of The China EU Investment Agreement Talks Will Play An Important Exemplary Role In The Global Economic Recovery

2021/1/4 10:32:00 0

ChinaEUChina EU Investment AgreementInternational Observation

The successful completion of the Sino EU investment agreement shows that only by expanding the two-way opening up on the basis of equality, mutual benefit and mutual respect, can China and the EU better achieve mutual benefit and win-win results. A more stable and mature China EU relationship is of great significance to the prosperity and stability of both sides and even the world. As European Commission President von der lain said, "the world needs a strong relationship between the EU and China.".

On December 30, 2020, the seven-year China EU investment agreement negotiations were finally completed as scheduled.

China EU investment agreement is a comprehensive, balanced and high-level agreement, which is benchmarked with international high-level economic and trade rules and focuses on institutional opening-up. The agreement can not only bring broad market investment opportunities for China and the European Union, which are important trading partners to each other, enhance the level of bilateral economic and trade cooperation and achieve mutual benefit and win-win results. More importantly, it also plans a timetable and roadmap for the development of China EU economic and trade relations in the next five to 10 years, and promotes China EU economic and trade cooperation to a new level.

Moreover, the completion of the investment agreement negotiations between China and the EU on schedule has released important positive signals, setting an example and confidence for global economic recovery and maintaining an open international trade and investment environment, and has played an important exemplary role.

Enhanced political mutual trust

In November 2013, China EU bilateral investment agreement negotiations were officially launched at the 16th China EU leaders' meeting.

In April 2019, the two sides set the goal of "reaching an investment agreement by 2020" in the joint statement of the 21st China EU summit.

Since 2020, the major agenda such as the video meeting of the leaders of China, Germany and Europe, the 22nd China EU leaders' meeting, and the establishment of the China EU high level dialogue on environment and climate and the high level dialogue mechanism in the digital field have been successively established, which has injected new impetus into the development of China EU comprehensive strategic partnership.

The new pneumonia epidemic accelerates the evolution of the international pattern, which also tests how China EU relations should be positioned and where to go under the new situation. Leaders of China and the EU met in the form of video, conducted strategic communication and achieved important results, sending a positive signal of Deepening China EU cooperation and building a comprehensive partnership with more world influence.

We can clearly see that under the guidance of the results of the leaders' video meetings and telephone exchanges, China EU relations have been further enriched and developed.

The first is the enhancement of political mutual trust. Both China and the EU stand for strengthening contacts and maintaining dialogue and communication on the basis of mutual respect and equal treatment; both advocate deepening opening and cooperation and opposing isolation and decoupling; and both advocate maintaining multilateralism and opposing unilateral acts. Second, deepen mutually beneficial cooperation. In 2020, the China EU agreement on geographical indications was officially signed. The two sides also agreed to establish a high-level dialogue on environment and climate and a high-level dialogue in the digital field, so as to create a green and digital partnership between China and the EU, and further expand the dimensions of China EU cooperation. Thirdly, it points out the direction for China EU cooperation. Both sides should jointly fight against the epidemic, work together to restore the economy, maintain international order and free trade system, and implement multilateralism.

Cooperation will come naturally

Globalization and the multilateral trading system are faced with great challenges due to the unprecedented changes in a century and the unprecedented epidemic situation in the century. In this process, China EU cooperation will play a key leading role. Further deepening cooperation with China will help Europe's economy climb over the hurdle, and also provide opportunities to help the world economy recover and jointly maintain an open trade and investment environment. At the critical moment, China and the EU have persisted in cooperation and overcome difficulties together, reversing the downward trend of bilateral trade and becoming a bright spot in the global economic haze.

According to the statistics of the General Administration of customs, in the first 11 months of 2020, the total value of trade between China and the EU will reach 4.05 trillion yuan, an increase of 4.7%, accounting for 13.9% of China's total foreign trade value. Among them, China's export to the EU was 2.45 trillion yuan, an increase of 7%; China's import from the EU was 1.6 trillion yuan, an increase of 1.3%; and the trade surplus with the EU was 840.19 billion yuan, an increase of 19.9%. China is the EU's largest trading partner, largest source of import and third largest export market, accounting for 16.0%, 22.2% and 10.3% respectively.

The economic and trade exchanges between China and the EU have been growing against the trend in the epidemic situation, which shows that win-win cooperation has always been the main tone of economic and trade cooperation between China and the EU, and also reflects the good bilateral relations and complementary economic advantages between China and the EU. China and the European Union are important economic and trade partners of each other. Their economies are highly complementary, and their cooperation fields are wide and their potential is huge.

More open and inclusive

The conclusion of the investment agreement between China and the EU is not only an important part of China's strategy of promoting opening up through reform, but also meets the development needs of Europe. Different from the trade relations between China and the EU, mutual investment between China and the EU is lower than the trade scale between China and the EU. Therefore, how to supplement the short board and lay a solid foundation for future development has become an important part of the Sino EU investment agreement negotiation.

Now, with the completion of the negotiation of the investment agreement, mutual direct investment is bound to usher in a great development. The strengthening investment ties and the originally strong economic and trade ties will play a role together, and the great ship of China EU economic and trade cooperation will also go far.

China EU investment agreements mainly cover market access, fair competition environment and sustainable development. The agreement will help to create a more fair and just environment for Chinese enterprises to invest abroad. At the same time, investment facilitation, liberalization and other provisions will effectively reduce the cost of foreign investment of Chinese enterprises, and greatly promote the sustained and stable development of China's foreign direct investment. In addition, EU countries have long been eager to reach an agreement to expand market access for EU enterprises in China. The new agreement will help European enterprises enter the Chinese market more smoothly, and China's investment environment will be further improved.

The successful completion of the Sino EU investment agreement negotiation shows that both sides need to keep their trade and investment markets open, relax various export restrictions, facilitate trade in goods and services, and promote bilateral technical exchanges. Only by expanding the two-way opening up on the basis of equality, mutual benefit and mutual respect, can China and the EU better achieve mutual benefit and win-win results. At the same time, as the two major powers, markets and civilizations in the world, China and Europe should join hands to uphold multilateralism and oppose unilateralism, maintain the international order and system with the United Nations as the core, and promote political solutions to international and regional hot issues. A more stable and mature China EU relationship is of great significance to the prosperity and stability of both sides and even the world.

Peace and development are still the themes of the times. "The world needs a strong relationship between the EU and China," said European Commission President Frederick von der lain German industry appreciates the investment agreement between China and Europe. Joachim, chairman of the Federation of German industries, said that it would be of great benefit to German, European and Chinese enterprises to improve market openness and optimize competition conditions in both directions.

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