After a few days of questioning about the European Commission’s position on the ratification of the comprehensive agreement on investment (CAI) with China, EU Trade Commissioner Valdis Dombrovskis said on 5 May that the process was linked to the state of the relationship between the two parties and was therefore pending. However, he refused to talk about a formal suspension of the ratification process.
“Our discourse remains the same. The investment agreement (CAI) with China is an important tool to rebalance our economic relations”, he repeated, also on 5 May.
However, he admits that the timing of ratification depends on the evolution of relations between the two parties. “The ratification process cannot be separated from the current dynamics in our relationship with China. In the context of the sanctions, the prospect of the next steps in ratification will depend on how tensions develop”, he added.
While support for the investment agreement is scarce, Germany is holding a steady line. German Chancellor Angela Merkel said in a speech to her party on 5 May that the agreement is “very important, despite the difficulties”. Germany, which held the EU’s rotating Presidency in the second half of 2020, played a major role in reaching the agreement in December. (Original version in French by Léa Marchal)