EU and China seize momentum to enhance trade agreements in response to Trump’s administration

EU-China Summit
From left to right: Mr Jean-Claude JUNCKER, President of the European Commission; Mr Li KEQIANG, Prime Minister of China; Mr Donald TUSK, President of the European Council.
Shoot location: Bruxelles – BELGIUM
Shoot date: 02/06/2017
Copyright: European Union

The EU-China summit will take place on July 16-17 in Beijing where both parties are going to discuss how to improve their trade and investment relations the moment when Donald Trump’s administration is imposing tariffs all around the world shaking the world and trade order.

Chinese and EU leaders have already met in Bulgaria and Germany during the last days expressing their willingness to cut beneficial deals for both nations. Besides, China is EU’s biggest source of imports and its second-biggest export market, as far as trade is concerned.

Despite the fact that EU and China attempt to team up to bridge the US gap, there are still trade disagreements which are pledged though by China to be overcome through the protection of the multilateral world order and access improvement of its vast domestic market.

EU-China High-level Economic and Trade Dialogue

During the 7th annual EU-China High-level Economic and Trade Dialogue (HED) which was held in Beijing on June 25, Vice-President Jyrki Katainen and Vice-Premier of the State Council Liu He, who is responsible for the relations with the EU and the US, had the chance to talk about the things that separate them ahead of a fruitful summit. Both sides agreed to exchange market access offers to strengthen the momentum in order to achieve a more powerful agreement on Investment.

In detail, European Commission Vice-President for Jobs, Growth, Investment and Competitiveness stated:

“I am confident that the exchanges we have had with my new counterpart, Liu He, have been useful in paving the way towards a successful EU-China Summit in the economic and trade field. I am particularly pleased with the progress achieved in our investment negotiations and look forward to an exchange of offers at the Summit.”

What is more both mentioned that at the upcoming EU-China Summit they would be ready to sign a Memorandum of Understanding (MoU) on the Circular Economy, an MoU for an Emissions Trading System and an Oceans’ Partnership that includes fisheries.

More preparatory talks

Chinese delegation’s recent visits in the Old Continent have shown that there is great chance to have a joint communiqué at the 20th EU-China summit.  Last Saturday, the Chinese Prime Minister Li Keqiang met with eastern and central European leaders in Sofia, Bulgaria announcing China’s will to open its economy to everyone.

More specifically, Li Keqiang mentioned:

“Opening up has been a key driver of China’s reform agenda, so we will continue to open wider to the world, including widening market access for foreign investors. Countries are welcome to board China’s economic express to share opportunities of China’s development.”

Furthermore, the Chinese Prime Minister went to Germany to meet the Chancellor two days ago and talk about the enhancement of their economic ties as Donald Trump’s MAGA (Make America Great Again) policy is affecting both economies. During their discussions, commercial deals were signed worth of around 20 billion euros where Siemens, Volkswagen and BASF are among the German companies to be get the lion’s share.

Once more, Prime Minister Li Keqiang stressed out that

“China has intellectual property guarantees in place to ensure that German companies need not fear losing proprietary technologies”.

The above framework was anticipated as on June 25 Li Keqiang told French Prime Minister Edouard Philippe that Beijing thinks of buying more planes this year and was ready for further talks with France about obtaining Airbus aircrafts. Also, China signed an agreement to import beef from France and pledged to buy more farm products.

Vice President Liu He mentioned after the conference that

“Both sides believe that we must resolutely oppose unilateralism and trade protectionism and prevent such behavior from causing volatility and recession in the global economy”.

All in all, Trump’s MAGA policy has caused global trade turbulences and as a result China and the EU are fighting back against the protectionist measures of the US government by joining forces, in a joint effort to maintain the multilateral trading system.

Therefore, both the EU and China currently exchange views on market access, state subsidies, forced tech transfers, and cyber security in order to achieve a strong EU-China trade agreement; something that seems to be the case after all.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

Can the US-Iran rapprochement change the world?

EU takes again positive action on migration crisis while Turkey asks for dear favors in exchange for cooperation

Medschool 4.0: how to succeed in the smart revolution of healthcare

Italian voters put again the European Peoples in the Brussels picture

From diamonds to recycling: how blockchain can drive responsible and ethical businesses

Why Eurozone can afford spending for growth

Eurozone’s north-south growth gap to become structural

The Oslo model: how to prepare your city for the electric-vehicle surge

Ukraine turns again to the EU for more money

‘We face a global emergency’ over oceans: UN chief sounds the alarm at G7 Summit event

The European Sting live from the World Economic Forum 2015 in Davos

Following the World Cup? Then you’re watching high-performing migrants at work

What we take for granted: The EU is not perfect

The historic accomplishment of a seamless EU patent and intellectual property space

MARKUP initiative to boost market access to Europe for East African SMEs

Fostering global citizenship in medical students through exchanges

Ben Stiller’s new role, more about hope than humour, as he’s named Goodwill Ambassador for UNHCR

Global Citizen-Volunteer Internships

Young? You should work out the entrepreneurial heart before the mind

For how long will terror and economic stagnation be clouding the European skies?

Eurogroup president swallows statement on savings confiscation

PM May fosters chauvinism, declares trade war on Europe

The battle for the 2016 EU Budget to shake the Union; Commission and Parliament vs. Germany

Imported and EU fisheries products should be treated equally

Jakarta is one of the world’s fastest disappearing cities

The refugee crisis as a young Nigerian doctor sees it

Trump’s Russophiles under investigation, Europe remains ‘en garde’

Senior UN children’s advocate says they ‘should never be targeted by violence’

Jeroen Dijsselbloem new Eurogroup president

Politics still matter in the US but not in Europe

Mental health in medical students: the deciphered quandary

Parliament sets up plan to fight the 3,600 criminal rings of EU

Cyber defence: MEPs call for better European cooperation

Vĕra Jourová, European Commissioner in charge of Justice

The New EU-US “Shield” for data privacy is full of holes

Macron’s Presidency: what the young generation’s expectations are

G20 LIVE: Fact Sheet from the G20 Leaders Summit and key outcomes (G20 Antalya 2015 Summary)

European Youth Forum welcomes steps towards raising awareness of youth rights by EU ministers

Ethiopia is Africa’s fastest-growing economy

Mali: Presidential elections critical to consolidate democracy, says UN peacekeeping chief

VW emissions scandal: EU unable to protect its consumers against large multinationals

The third bailout agreement for Greece is a done deal amid European economies full of problems

EU budget: Regional Development and Cohesion Policy beyond 2020

1 million citizens try to create a new EU institution

WEF Davos 2016 LIVE: “There is a communication issue (about China) which markets don’t like” Christine Lagarde, Managing Director of IMF stresses from Davos

Spirit unlimited

Tackling Youth Unemployment

Who threatens the lives and livelihoods of Ukrainians?

G20 LIVE: “This was not an attack against France, this was an attack against the universal human values!”, EU President Juncker cries out from G20 in Antalya Turkey

EC v Samsung: A whole year to compile a case

Junior Enterprises as a solution for Youth Entrepreneurship

Spanish vote – bad luck for Greece: Does Iphigenia need to be sacrificed for favourable winds to blow in Eurozone?

‘Immense’ needs of migrants making perilous journey between Yemen and Horn of Africa prompts $45 million UN migration agency appeal

Global health challenges require global medical students

The EU Parliament slams Commission on economic governance

JADE Generations Club: Connecting perspectives, changing Europe.

De Gucht: More gaffes with the talks on the EU-US free trade agreement

COP21 Breaking News_07 December: “The world is expecting more from you than half-measures”, UN Secretary General Bank Ki-moon cries out from Paris

Eurozone has practically entered a deflation trap

Here are six bold ideas to accelerate sustainable energy innovation

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s