Brussels, 22/06/2016 (Agence Europe) - On Wednesday 22 June, High Representative of the EU for Foreign Affairs and Security Policy Federica Mogherini and the European Commission adopted a five-year strategy for strengthening relations between the EU and China. The strategy is aimed at replacing the previous EU strategy on China that was adopted in 2006.
The joint communication unveiled on Wednesday identifies “major” opportunities for strengthening relations between the EU and China on the economic level. In the short term, this includes concluding an ambitious investment agreement, China contributing to the European Fund for Strategic Investments (EFSI), and joint activities on research and innovation, as well as connecting the Eurasian continent through a physical and digital network enabling trade, investment and contact between people.
In the longer term, the EU will be able to be more ambitious in planning the negotiation of a new generation free trade agreement, but only once the bilateral agreement on investment has been concluded and once China has implemented reforms guaranteeing the rules of fair play for national and foreign companies, according to the joint communication.
China should therefore make significant, time-bound and verifiable cuts in industrial overcapacity, especially in the steel sector, to prevent negative consequences from unfair competition, the communication states, highlighting the importance for the EU of strengthening the effectiveness of its trade defence instruments by the swift adoption of the proposal presented by the Commission in April 2013 to modernise these instruments.
The strategy also provides for the EU's continued support, through its many dialogues with China, for the country's economic and social reforms so that China can reap the full benefit of market-led reform, including by eliminating state-induced economic distortions and reforming state-owned enterprises.
On the political level, the strategy underlines the opportunities for closer cooperation and strengthened partnership between the EU and China in the fields of foreign and security policy. Building on the success of the negotiations on the Iranian nuclear programme, the strategy supports closer collaboration between the EU and China for settling international conflicts and dealing with priority foreign policy issues both on the bilateral level and in multilateral contexts such as the UN system and the G20.
The strategy also recommends closer collaboration for responding to global challenges such as migration, development aid, environmental protection and the climate.
“The EU's engagement with China will be principled, practical and pragmatic, staying true to its interests and values, in particular adherence to international rules and norms, and respect for human rights”, the Commission states in a press release.
The joint communication, which is now due to be presented to the Council and European Parliament, can be consulted at: http://goo.gl.QojJ2F . (Original version in French by Emmanuel Hagry)