VDMA: EU investment agreement with China can be an important milestone
The EU's investment agreement with China is expected to bring improvements in market access as well as a leveling of the playing field for European companies. It will be particularly important that the Chinese commitments can be enforced, if necessary.
Commenting on the settlement in principle on an investment agreement between the EU and China, Ulrich Ackermann, head of the foreign trade department at the VDMA, says:
"The VDMA has long been calling for the conclusion of the EU's investment agreement with China. This is about improvements in market access, equalization of conditions of competition for European companies in China and an enforceable investment protection. We expect these demands to be met by the EU Commission's agreement in principle with the Chinese side. In particular, the enforceability of Chinese commitments and, where appropriate, sanctions are important. We hope that China's commitment to 'sustained and sustainable efforts' to ratify the core labour standards of the International Labour Organisation (ILO) is serious and verifiable. Because only if the Chinese government makes binding commitments here will the EU Parliament want to ratify the investment agreement."
A photo of Ulrich Ackermann, Head of VDMA Foreign Trade, can be found here.