The EU has more than one reason to shelve the investment agreement with China for now, say MEPs.
At a meeting of the European Parliament’s Committee on International Trade (INTA) on Tuesday 25 May, they reiterated their willingness to freeze ratification of the agreement until Chinese sanctions against the EU are lifted (see EUROPE 12723/16). They also insisted on the need to equip European trade policy with defence tools to guard against Chinese power.
The first to speak out was Iuliu Winkler (EPP, Romania), rapporteur for the opinion on the own-initiative report ‘A new EU-China strategy’, who said that an autonomous toolbox would be welcome to pursue trade and investment relations with Beijing.
While several instruments are being developed by the European Commission, most political groups believe that a step change is needed. “It is high time that we look at autonomous measures”, said Kathleen Van Brempt (S&D, Belgium).
“This opinion should be an opportunity to remind the European Commission to strengthen its legal arsenal against China in order to play on equal terms”, insisted Marie-Pierre Vedrenne (Renew Europe, France)
On 5 May, the European Commission published its proposal to combat foreign subsidies that distort competition (see EUROPE 12713/1). It is due to submit its proposal for an anti-coercion tool and its text on corporate due diligence in the autumn.
Finally, the EU Council is close to reaching an agreement on the International Procurement Instrument (see EUROPE 12723/6). (Original version in French by Léa Marchal)