Europe and China have an opportunity to turn words into action at summit
Trade and investment, climate change, foreign policy and connectivity will be top of the agenda when leaders meet in Beijing, EU ambassador to China says
In times of geopolitical uncertainty, the 20th EU-China summit in Beijing on Monday will be an opportunity to show that our cooperation is important not only for Europe and China, but also for the rest of the world. We must support and strengthen the open, rules-based system of global governance, which is the basis for economic prosperity and sustainable globalisation, and advance on issues like climate change, foreign policy and Eurasian connectivity.
Of course, the European Union as a global political actor and a major trading power must also pursue its legitimate interests. We have some concrete expectations concerning the direction of our future cooperation under the comprehensive strategic partnership with China.
The changing climate on trade and investment is a good moment for China to show public commitment and take concrete steps to open markets and establish a level playing field for European companies. At the summit, we expect to exchange market access offers for a Comprehensive Agreement on Investment between the EU and China. It should lead to an ambitious and comprehensive deal to open more sectors and provide investment protection above and beyond the standards already set out in the 27 existing bilateral agreements between China and EU countries.
Another of the EU’s key objectives at the summit is to take decisive steps to conclude the negotiations for a bilateral agreement on protection of geographical indications (GIs). This will allow better protection of well-known European food brands in China. Conclusion of this agreement would make it the first international trade treaty between the EU and China, and send a strong signal for future cooperation in trade and investment.
We have also agreed to extend our cooperation under the EU-China Connectivity Platform that will convene a day before the summit. We will need to create synergies between China’s “Belt and Road Initiative” and the EU’s own approach on sustainable connectivity between Europe and Asia, and we agreed to explore complementarities and synergies in this field that is crucial for both China and the EU. The EU is currently working on a strategy for connecting Europe and Asia, to be released in the coming months.