China and the European Union (EU) agreed on Monday (16.7.2018) at the 20th Summit held in Beijing and stressed that this partnership has reached a new level of importance for our own citizens, our respective neighbouring regions and for the international community more broadly.
Chinese and European leaders in Beijing have insisted on their goal of reforming the World Trade Organisation (WTO) to improve the multilateral system and avoid protectionist measures.
Defense of the opening
China has also promised to continue opening its economy to European investment and exports, Premier Li Keqiang said at a press conference. "China will significantly increase access to its markets and reduce tariffs"s" to the products necessary for their consumers and their companies, he explained read
I am more convinced than ever that, in the era of globalization and interdependence, Multilateralism must be at the heart of what we do"We expect all our partners to respect international standards and the commitments they have made, especially within the framework of the World Trade Organization," said the President. Jean-Claude Juncker in itsopening speechat the EU-China Business Roundtable in Beijing, which provided an opportunity for EU and Chinese leaders to exchange views with representatives of the business community.
"At the same time, it is true that current WTO rules do not allow unfair practices to be dealt with in the most effective way, but rather than throwing the baby out with the bathwater, We must all preserve the multilateral system and improve it from within. ".
Investment
On the other hand, good progress was made in the ongoing negotiations of the Investment Agreement, which is a priority and a key project to establish and maintain an open, predictable, fair and transparent business environment for European and Chinese investors. The EU and China exchanged market access offers, bringing the negotiations into a new phase, where work on the offers and other key aspects of the negotiations can be accelerated. The European Investment Fund (EIF), part of the European Investment Bank Group, and China's Silk Road Fund (SRF) have signed a Memorandum of Understanding with the aim of confirming the first co-investment carried out under the recently established EU-EU Investment Fund Agreement ("CECIF")) which promotes investment cooperation between the European Union and China and the development of synergies between China's Belt and Road Initiative and the Investment Plan for Europe.
Food safety
The EU and China also agreed to conclude negotiations on an agreement on cooperation and protection against imitation of distinctive foods and beverages, known as Geographical Indications before the end of October, if possible. An agreement in this area would result in a high level of protection for our respective geographical indications, which represent important traditions and abundant resources for both the EU and China.
In the area of food safety, the EU and China agreed to promote the highest standards of food safety and are willing to take into account the principle of regionalisation, and committed to expanding market access for food products.
Customs Cooperation
The EU and China have also signed the Action Plan on China-EU Customs Cooperation on Intellectual Property Rights (2018-2020), with the aim of strengthening the enforcement of customs laws to combating counterfeiting and piracy in trade between the two. The Action Plan will also promote cooperation between customs and other law enforcement agencies and authorities to stop production and shut down distribution networks.
The European Anti-Fraud Office (OLAF) and the General Administration of Customs of China signed a Strategic Agreement on Administrative Cooperation and an Action Plan (2018-2020) to strengthen cooperation in the fight against customs fraud, in particular in the area of fraud involving the transfer and illicit trafficking of waste and undervaluation fraud.
EU-China connectivity
At the third meeting of the EU-China Connectivity Platform, held on the sidelines of the Summit and chaired by EU Commissioner Violeta Bulc, the two sides reaffirmed their commitment to transport connectivity on the basis of respective political priorities, sustainability and market rules and international coordination.
The exchanges focused on: political cooperation based on the framework of the Trans-European Transport Network (TEN-T) and the Belt and Road Initiative, involving relevant third countries between the EU and China; cooperation on decarbonisation and digitalisation of transport, including in international forums such as the International Civil Aviation Organization (ICAO) and the International Maritime Organization (IMO) cooperation on investment projects based on criteria of sustainability, transparency and a level playing field to encourage investment in transport between the EU and China.
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