Brussels, 07/06/2012 (Agence Europe) - On Thursday 7 June in a seminar organised by the Breugel think tank, EU Commissioner for Trade Karel De Gucht outlined his expectations regarding a bilateral agreement on investment between the EU and China. Such an agreement should primarily “consolidate into a single, uniform framework” the bilateral investment agreements already concluded between all the EU member states, apart from Ireland, and the Asian giant. These are aimed at improving the way in which investors and their goods are treated, including key technology and intellectual property. The commissioner also considers that the objective of this agreement should be to guarantee competition between the EU and China, whilst ensuring that their companies compete on their respective markets “on the same terms, regardless of their ownership structure or origin”. The agreement should also “add a set of commitments” on corporate social responsibility, labour and environmental standards. The commissioner explained that these commitments “would safeguard the rights of both sides to make policy in these areas as well as committing us not to lower standards just to attract investment”. The commissioner considers that the “crucial element” must be to “secure existing openness and deliver new liberalisation of the conditions for accessing the investment market”. Chinese investment in the EU between 2003 in 2008 was less than €1 billion but last year it reached a figure above €7 billion. (EH/transl.fl)