European Chamber Stance on the Political Agreement of the EU-China Comprehensive Agreement on Investment Go back »

2020-12-30 | All chapters

Stance

The European Union Chamber of Commerce in China welcomes the news that a political agreement has been reached on the long-discussed Comprehensive Agreement on Investment. The business community looks forward to parsing through the details and what they mean for solidifying the legal position of European companies already in China, as well as for those that may be new entrants to the market as a result of the agreement.

Of course, the agreement will not come into force until final texts are developed and then ratified by both sides, which will likely require overcoming additional hurdles. The European Chamber hopes to see that decision-makers maintain the same spirit of engagement that carried the day for the political agreement so that they can deliver an enforceable pact.

“We eagerly await the release of the details of this political agreement, and hope to find a robust and bold conclusion,” said Joerg Wuttke, president of the European Union Chamber of Commerce in China. “A strong agreement would be a powerful statement to show that constructive engagement can produce results.”

Background

On Wednesday, 30^th December 2020, European Commission President Ursula von der Leyen, European Council President Charles Michel, German Counsellor Angela Merkel (representing the German Presidency to the Council of the EU) and French President Emmanuel Macron had a virtual meeting with President Xi Jinping. The leaders agreed in principle to the conclusion of the Comprehensive Agreement on Investment.

Please find the press release from the European Commission and from Xinhua, as well as a more detailed overview of the key points of the Agreement here. You can also download a factsheet on the deal and a background document below.

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