We conclude that China is, and will continue to be, a major trade and investment partner for EU countries. Exposing the fragility of EU–China relations 23 May 2020. British Queen ... 2020. The contrast could not be more startling, and nor could it be a more damning expression of Britain's current geopolitical woes. BRUSSELS/BERLIN, Feb. 17 (Xinhua) -- Many companies in the European Union (EU) and China were pleased to see EU-China bilateral trade boom in 2020 -- a year that was marred by lockdowns and industrial disruptions due to the restrictive measures put in place to curb the spread of COVID-19. 2020 was supposed to be an important year for EU–China relations as the European Union’s China policy is undergoing a deep transformation. However, many Central and Eastern European countries have become more apathetic about the format, concluding that China will keep overpromising and underdelivering on many of its investments. Europe has finalized an investment agreement with China that is designed to rebalance trade with the world's second largest economy, despite US concerns that the deal could be counterproductive. 5. In the jointly adopted EU–China 2020 Strategic Agenda for Cooperation of 2013, the EU reaffirmed its respect for China's sovereignty and territorial integrity, while the PRC reaffirmed its support to EU integration. Key milestones: December 2020: EU and China reach agreement in principle on investment September 2020: EU-China leaders’ meeting confirming the progress on the level playing field rules July 2020: EU-China 8th High-Level Trade and … EU-China Comprehensive Agreement on Investment: Milestones and documents. EU-China High-Level Trade and Economic Dialogue - Make it or Break it for CAI 2020 Amid the corona-crisis and growing political tensions in the relations, EU-China economic links are entering a juncture which will determine whether concluding the Comprehensive Agreement on Investments (CAI) in 2020 is still possible. German Chancellor Angela Merkel said Wednesday that the EU-China investment treaty was an ... other things with which trade can be developed to the ... EU in the second half of 2020. Patrick Atack in London Europe; Share . Copied. China surpassed the US becoming the European Union's largest trading partner in coronavirus-plagued 2020. Economy 00:53, 21-Jul-2020 Global Business Daily: EU-China trade deal, Euro fund talks continue, Ireland green drive. https://www.statista.com/statistics/257155/eu-trade-with-china While many other dimensions of competition between the US and China will continue to intensify, the phase one trade deal that the two are due to sign this week has provided Beijing with breathing room in the run-up to November’s US election. Read more about China becomes EU's biggest trade partner in 2020, imports jump by 5.6% on Business Standard. China is already ranked as the EU’s second-largest trading partner ... member state China bilateral deals before the end of 2020. Immediately following the EU-China summit, there should also be the annual gathering of the 17+1 group in April 2020. Yet the context in 2020 is different. Europe 03:12, 31-Dec-2020 New EU-China investment deal is 'not a free trade agreement' CGTN Share . ... 30 Dec 2020. “[The] expansion in total EU-China trade volumes more reflects strong growth in EU imports from China in 2020, rather than European exports benefiting strongly from China’s economic recovery. Copied. Trade in services between the EU and the U.S. during that period was €296.3 billion — five times more than the trade in services between the EU and China, which totaled €53.3 billion. Tom Fowdy Share . (BRUSSELS) - Following intensive negotiations carried out by the European Commission, the EU and China concluded in principle at the end of 2020 negotiations for a Comprehensive Agreement on Investment (CAI). This report examines key aspects of the European Union-China economic relationship, including trade, investment and China’s key strategic project overseas, the Belt and Road Initiative (BRI). This is the first significant bilateral trade agreement signed between the EU and China. An agreement on the investment deal was reached in principle at the end of December 2020 after seven long years of negotiations. For the euro area it became the first increase in exports since February 2020, when the pandemic started wreaking havoc across the globe. EU, China sign investment deal 7 years in the making. Brussels and Beijing signed a new investment agreement in 2020 intended to guarantee a stable framework of conditions for trade … EU-China Leaders’ Meeting: Upholding EU values and interests at the highest level - Joint press release by President Michel, President von der Leyen and Chancellor Merkel (Press release, 14 September 2020) Trade and investment The two sides will fully implement the Strategic Agenda for Cooperation through their annual ... Strive to create the conditions for continued high and sound growth in EU-China trade. The priorities for EU-China trade and economic priorities were confirmed by the 21 st EU-China While final numbers for trade in services are not yet available for the full year 2020, we do have data for the first three quarters of the year. Author: Tim Rühlig, Swedish Institute of International Affairs. Second, it's an important breakthrough in China-EU trade relations, setting in motion the direction for the upcoming EU-China Summit and the EU-China bilateral investment treaty, which is expected to be completed by 2021. In that perspective, both sides jointly adopted the EU-China 2020 Strategic Agenda for Cooperation. The EU and China's new investment deal may fail to make it past European lawmakers after they raised three big concerns with the agreement. New EU-China trade agreement illustrates Britain's poor choices. ... broadly welcomed the latest progress in the EU-China talks. Last updated on 23 February 2021. European Commission Directorate-General for Trade 12-04-2021 3 Units R4 / A3 European Union, Trade with China Total goods: EU Trade flows and balance, annual data 2010 - 2020 Source Eurostat Comext - Statistical regime 4 Total goods: EU Trade flows and balance Source Eurostat Comext - Statistical regime 4 Period Imports Exports Balance Total trade What is the EU-China agreement? As a result, the overall value of EU-China goods trade in 2020 amounted to €586 billion ($706 billion), which is €31 billion ($37 billion) more than between the European bloc and its longstanding partner, the US. The EU is the PRC's largest trading partner, and the PRC is the EU's largest trade partner. China became the main trade partner of the European Union (EU) in 2020, with exports and imports both increasing despite the COVID-19 pandemic, Eurostat said on Monday. At the same time, the EU's trade with the US dropped dramatically, with imports sliding 13.2% and exports falling 8.2%. Even when the impact of the pandemic wanes, EU-China trade is set to further expand. … At the same time, the trade in goods with the United States, which had topped the EU's trade partners list until early 2020, saw substantial decline in both ways The European Union and China aim to reach an investment accord by the end of 2020 that would grant European companies greater access to the … China | Brussels, 22 January 2021. ... as well as promote economic globalisation and free trade. As 2020 drew to a close, leaders from the EU and China confirmed that after nearly seven years of negotiations, they had clinched an agreement-in-principle on investment. 01:37 China and the European Union have concluded negotiations on an investment agreement that was seven years in the making. /Xinhua. It will ensure that 100 EU agri-food GIs ("Geographical Indications") such as Mozzarella di Bufala Campana, Languedoc wine, Polska Wódka or Elia Kalamatas get protection on the Chinese market. However, imports remained subdued at the end of 2020. Interestingly, parties were debating on market access and sustainable development as late as the beginning of December 2020. The EU was represented by Council president Charles Michel and Commission chief Ursula von der Leyen, while China was represented by President Xi Jinping. EU's trade policy towards China is set out in the EU-China 2020 Strategic Agenda for Cooperation and in the EU-China Strategy of 2016, which has been updated by the 'EU-China – A Strategic Outlook' -communication in March 2019. The key to the future EU-China relationship could come from what happens in the U.S. election in November, where presumptive Democratic nominee Joe Biden holds a … In 2013, EU-China launched negotiations on the CAI with the aim to provide investors on both sides with predictable, long-term access to the EU and Chinese markets and to protect investors and their investments.