In December 2020, the European Union concluded a Comprehensive Agreement on Investment (CAI) with China to increase the economic relations between the two global powers. The agreement means that China will open its markets to a greater level for European investors and businesses. The objective is to create a more equal playing field, fairer treatment of foreign actors and more investments in sustainability and labour conditions.
In his reaction to these news, ALDE Party President Hans van Baalen highlighted the need for the European Union to coordinate the economic relationship with the new Biden Administration in the United States. President van Baalen also urged the European Parliament to only ratify the CAI if the Bilateral Investment Agreement (BIA) between the European Union and Taiwan is included.
Today’s provisional deal on Comprehensive Agreement on Investment EU – China is premature. EU and new US Biden Administration should coordinate as soon after January 20. CAI EU – China ratification by EP should be accompanied by Bilateral Investment Agreement EU - Taiwan (BIA)— Hans van Baalen (@hansvanbaalen) December 30, 2020
The economic and political importance of this can’t be ignored, as Taiwan is the sixth largest trading partner in Asia for the European Union, and European investments are the largest source of foreign direct investments for Taiwan.
In an upcoming webinar on 28 January – organised by the European Liberal Forum – President van Baalen will discuss this and other topics related to the future of EU-China relations.
For more information and to register click here.
💬Can the #EU use an investment #deal with #China to promote its ratification of the ILO conventions against forced labour and the #ParisAgreement?— European Liberal Forum (@EurLiberalForum) January 26, 2021
Join our next #OnTheAgenda to find out what @hansvanbaalen, @MariePierreV and @ajwsmall think.