The European Commission takes a step back and suspends efforts to get approval for the super investment deal signed with China at the end of last year. The news was given by the vice president of the Commission, Valdis Dombrovskis, in charge of approving the much-contested agreement. "Now, in a certain sense, we have suspended the political awareness activities by the European Commission", explained Dombrovkis in an interview with AFP. "It is clear that in the current situation with the EU sanctions in force against China and Chinese counter-sanctions in place, including against the members of the European Parliament, the environment is not favorable to ratifying the agreement", he added. . The attempt to ratify the agreement "it will really depend on how the broader relations between the Union and China will evolve ", underlined the former Latvian Prime Minister. To the astonishment of many, the European Union and China had approved an important investment pact at the end of December , concluding seven years of laborious negotiations thanks to a final push from Germany. The pact had been sponsored as a much-needed opening to the Chinese economy long closed to European companies, but he was certain it would face difficult ratification among the 27 Member States and the European Parliament. Denials were already piling up. In March, Brussels also sanctioned four Chinese officials for human rights violations in the Xinjiang region. Beijing immediately responded by sanctioning politicians,European scholars and research groups. In this context, the Commission will present its proposal tomorrow to block possible takeovers by foreign companies - obviously primarily Chinese, albeit without direct reference - to the detriment of European companies. Not only that, the European executive will also undertake to ensure that non-EU companies are not in any way benefited by their states, thus fueling unfair competition against the companies of the twenty-seven.European executive will also undertake to ensure that non-EU companies are not in any way benefited by their states, thus fueling unfair competition against companies of the twenty-seven.European executive will also undertake to ensure that non-EU companies are not in any way benefited by their states, thus fueling unfair competition against companies of the twenty-seven.
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May 04, 2021 - The European Commission takes a step back and suspends efforts to obtain approval of the super investment agreement signed with China at the end of last year.
The news was given by the vice president of the Commission, Valdis Dombrovskis, in charge of approving the much-contested agreement.
"Now, in a certain sense, we have suspended the political awareness activities by the European Commission", explained Dombrovkis in an interview with AFP.
"It is clear that in the current situation with the EU sanctions in force against China and Chinese counter-sanctions in place, including against the members of the European Parliament, the environment is not favorable to ratifying the agreement", he added. .
The attempt to ratify the agreement "will really depend on how the broader relations between the Union and China evolve", underlined the former Latvian prime minister.
To the astonishment of many, the European Union and China had approved a major investment pact in late December, concluding seven years of laborious negotiations thanks to a final push from Germany. The pact was sponsored as a much-needed opening to the Chinese economy long closed to European companies, but he was certain it would face difficult ratification between the 27 member states and the European Parliament. The denials were already piling up.
In March, Brussels also sanctioned four Chinese officials for human rights violations in the Xinjiang region. Beijing immediately responded by sanctioning European politicians, scholars and research groups. In this context, the Commission will present its proposal tomorrow to block possible takeovers by foreign companies - obviously primarily Chinese, albeit without direct reference - to the detriment of European companies. Not only that, the European executive will also undertake to ensure that non-EU companies are not in any way benefited by their states, thus fueling unfair competition against the companies of the twenty-seven.
