Brussels, 17/09/2013 (Agence Europe) - MEPs are making their approval of the future EU-China investment agreement conditional upon strict parliamentary scrutiny of the negotiations.
On Tuesday 17 September, the European Parliament's international trade committee adopted (by 25 votes to two, with three abstentions) a resolution drafted by Helmut Scholz (GUE/NGL, Germany) on the mandate to be granted to the European Commission for negotiating an agreement on investment between the EU and China - an agreement aiming to protect both partners' investments. As the first agreement of this kind negotiated under the Lisbon Treaty - which makes investment agreements an exclusive competence of the EU - it will replace 26 bilateral investment agreements which already exist between the member states and China.
The Parliament's international trade committee is calling for the negotiations to begin only after China has accepted to negotiate its market access rules. The committee also demands that the future agreement lead to more equality between the two sides on the investment climate. While Chinese investment currently enjoys a stable environment in Europe, European investment in China often comes up against obstacles, such as the Chinese control mechanism aiming to filter foreign investment, or the strategic transfer of technology demanded by Beijing in exchange for authorisation to invest in China. The guarantee of a situation of fair competition between Chinese public enterprises and European private enterprises is also demanded.
In addition, MEPs call for the inclusion of binding arrangements in the agreement with regard to social responsibility, social and environmental standards, and standards on the protection of European public services, intellectual property, geographical indications, and respect of data protection. Cultural services should be excluded from the scope of the negotiation.
The resolution will be put to the vote in the Parliament's plenary session in October, before the Council gives its green light to the launch of the negotiations. (EH/transl.fl)