The successful completion of the China EU investment agreement negotiation shows that only by expanding two-way opening-up on the basis of equality, mutual benefit and mutual respect can China and the EU achieve better mutual benefit and win-win results. A more stable, mature and high-level China EU relationship is of great significance to the prosperity and stability of both sides and even the world. As the president of the European Commission, Frederick von draen, said, "the world needs a strong relationship between the EU and China.".
On December 30, 2020, the seven-year China EU investment agreement negotiation was finally completed as scheduled.
China EU investment agreement (CEIA) is a comprehensive, balanced and high-level agreement, which is based on international high-level economic and trade rules and focuses on institutional openness. The agreement will not only bring broad market investment opportunities for China and the EU, two important trading partners, to enhance the level of bilateral economic and trade cooperation and achieve mutual benefit and win-win results. More importantly, it will also plan a timetable and roadmap for the development of China EU economic and trade relations in the next five to 10 years and promote China EU economic and trade cooperation to a new level.
Moreover, the timely completion of the investment agreement negotiations between China and the EU has sent an important positive signal, set an example and confidence for the global economic recovery and the maintenance of an open international trade and investment environment, and played an important exemplary role.
Enhanced political mutual trust
In November 2013, the negotiation of China EU bilateral investment agreement was officially launched at the 16th China EU summit.
In April 2019, the two sides set the goal of "reaching an investment agreement by 2020" in the joint statement of the 21st China EU summit.
Since 2020, the major agenda of China Germany EU leaders' video meeting and the 22nd China EU leaders' meeting have been smoothly carried forward, and the China EU high level dialogue on environment and climate and the digital high level dialogue mechanism have been established one after another, which has injected new impetus into the development of China EU comprehensive strategic partnership.
The novel coronavirus pneumonia epidemic situation accelerates the international pattern evolution, also tests under the new situation under the European Union relations how to locate and the direction. Leaders of China and the EU held meetings in the form of video, carried out strategic communication and achieved important results, which sent a positive signal of Deepening China EU cooperation and building a comprehensive partnership with more world influence.
We can clearly see that China EU relations have been further enriched and developed under the guidance of leaders' many video meetings and telephone exchanges.
The first is the enhancement of political mutual trust. Both China and the EU stand for strengthening contacts and maintaining dialogue and communication on the basis of mutual respect and equal treatment; both stand for deepening opening up and cooperation and opposing isolation and decoupling; both stand for upholding multilateralism and opposing unilateral acts. The second is to deepen mutually beneficial cooperation. In 2020, the China EU agreement on geographical indications was officially signed. The two sides also agreed to establish a high-level dialogue on environment and climate and a high-level dialogue in the digital field, build a green and digital partnership between China and the EU, and further expand the dimensions of China EU cooperation. Thirdly, it points out the direction for China EU cooperation. The two sides should jointly fight against the epidemic, work together to restore the economy, maintain the international order and free trade system, and implement multilateralism.
Cooperation comes naturally
Globalization and the multilateral trade system are facing great challenges. In this process, China EU cooperation will play a key leading role. Further deepening cooperation with China will help the European economy to climb over the hurdle, and will also provide opportunities to help the world economy recover and jointly maintain an open trade and investment environment. At the critical moment, China and the EU adhered to cooperation and overcame difficulties together, reversing the downward trend of bilateral trade and becoming a bright spot in the global economic haze.
According to the statistics of the General Administration of customs, in the first 11 months of 2020, the total value of trade between China and the EU was 4.05 trillion yuan, an increase of 4.7%, accounting for 13.9% of China's total foreign trade value. Among them, China's export to the EU was 2.45 trillion yuan, an increase of 7%; China's import from the EU was 1.6 trillion yuan, an increase of 1.3%; China's trade surplus with the EU was 840.19 billion yuan, an increase of 19.9%. China is the EU's largest trading partner, largest source of imports and third largest export market, accounting for 16.0%, 22.2% and 10.3% respectively.
The growth of Sino EU economic and trade exchanges in the epidemic shows that win-win cooperation has always been the main theme of Sino EU economic and trade cooperation. It also reflects the good bilateral relations and complementary economic advantages between China and the EU. China and the European Union are important economic and trade partners of each other. Their economies are highly complementary and have great potential for cooperation in a wide range of fields.
More open and inclusive
The conclusion of the investment agreement between China and Europe is not only an important part of China's strategy of promoting opening up through reform, but also in line with the development needs of Europe. Different from China EU trade relations, China EU mutual investment is lower than China EU trade scale. Therefore, how to make up for the shortcomings and lay a solid foundation for future development has become an important part of the China EU investment agreement negotiations.
Now, with the completion of the negotiation of the investment agreement, mutual direct investment is bound to usher in great development. The ever strengthening investment ties will play a role together with the original strong economic and trade ties, and the great ship of China EU economic and trade cooperation will be stable and far-reaching.
China EU investment agreements mainly cover market access, fair competition environment and sustainable development. The agreement will create a fairer and fairer environment for Chinese enterprises to invest abroad. At the same time, investment facilitation, liberalization and other provisions will also effectively reduce the cost of Chinese enterprises' foreign investment and greatly promote the sustained and stable development of China's foreign direct investment. In addition, EU countries have long been eager to reach an agreement to expand EU enterprises' access to the Chinese market. The new agreement will help European enterprises enter the Chinese market more smoothly, and China's investment environment will be further improved.
The successful completion of the China EU investment agreement negotiation shows that both China and the EU need to keep their trade and investment markets open, relax various export restrictions, facilitate trade in goods and services, and promote bilateral technical exchanges. Only by expanding two-way opening-up on the basis of equality, mutual benefit and mutual respect can China and the EU achieve better mutual benefit and win-win results. At the same time, as the world's two major forces, two major markets and two major civilizations, China and Europe should join hands to uphold multilateralism and oppose unilateralism, safeguard the international order and system with the United Nations as the core, and promote the political settlement of international and regional hot issues. A more stable, mature and high-level China EU relationship is of great significance to the prosperity and stability of both sides and even the world.
Peace and development are still the themes of the times. "The world needs a strong relationship between the EU and China," said European Commission President Frederick von draen German industry appreciates the investment agreement between China and Europe. Joachim, chairman of the Federation of German industries, said that two-way improvement of market openness and optimization of competition conditions are of great benefit to German, European and Chinese enterprises.