The EU is suspending the ratification of an investment agreement with China

The European Union (EU) has stopped an attempt by the European Parliament (EP) to ratify an investment agreement with China. Tensions between Brussels and Beijing are said to be behind the suspension of the agreement signed last December.

Vice-President of the European Commission Valdis Dombrovskis “In today’s environment, where the EU imposes sanctions on China and China’s EU member states and members of the European Parliament, there is no situation that would allow this agreement to be ratified.”

Euoronews to your news by; “We cannot ignore the scope of relations between the EU and China,” Dombrovskis said. solve this asymmetry, “said Dombrovskis.

Mutual sanctions between the EU and China

In March, for the first time in 30 years, the EU took a common position with its Western allies and imposed sanctions on four of China’s officials and one institution for human rights abuses against the country’s Uighur Turks. .

China also responded to the development with a sudden and harsh response, announcing sanctions against ten people and four institutions, including five members of parliament.

Agreement; access to the covered market, ease of competition and investment opportunities

The EU planned the deal, known as the CAI, to help balance the entry into the Chinese market. At the same time, he hoped that this would create new investment opportunities for European companies in China and allow companies operating in the country to compete on an equal footing.

The agreement had to be approved by the European Parliament for it to enter into force. In particular, China’s Uyghur policy was expected to go through this process.

CLICK – An investment agreement has been signed between the European Union and China

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