The European Parliament has adopted its report on “A new EU-China strategy”. I worked as co-rapporteur for this file, covering the exclusive competences of INTA on trade and investment.
The report is very important because it clarifies and consolidates the EU position in its strategic relationship with China. Key trade- and investment-related considerations include calls to redress the increasingly unbalanced economic and trade relationship with rules-based mechanisms that aim to level the playing field, while boosting the EU’s autonomous trade toolbox. Stressing the need to speak with one voice on China, the report also calls for an assessment of the EU’s economic dependencies in strategic sectors, such as critical raw materials or semiconductors, and an urgent need to boost the resilience of our supply chains. The report also reiterates that the ratification process of the Comprehensive Agreement on Investment cannot start until the Chinese sanctions against MEPs and EU institutions have been lifted.
Even though the reciprocal sanctions have brought EU-China political and diplomatic relations to a recent time low, the economic and trade exchanges are ever-increasing. Regardless of our differences, we must hence engage China to resume dialogue and begin rebuilding trust.