EU Laments Stalled Trade Progress with China, Seeks Reduced Economic Dependence

news 02-Jul-2023 Business

European Union Regrets Lack of "Substantial" Progress in Trade with China

The European Union's ambassador to China, Jorge Toledo, expressed his regret on Sunday for the lack of "substantial" progress in trade with Beijing. Meanwhile, EU countries seek to reduce their economic dependence on the Asian giant.

European Commission Suspends Efforts on Investment Agreement with China

The European Commission has suspended its efforts to secure the approval of member states and the European Parliament for the investment agreement reached with China at the end of 2020 after seven years of negotiations. This comes as a result of disputes over human rights issues in the predominantly Muslim region of Xinjiang.

European Union Adjusts Stance on China, Reducing Economic Dependence

Amid strained relations, the European Union also decided in May to "adjust" its position towards China to reduce its economic dependence on it. There are concerns that Beijing is providing implicit support to Moscow in its conflict with Ukraine.

EU Ambassador Expresses Disappointment over Stalled Economic Dialogue with China

Jorge Toledo stated, "I regret to say that our economic and trade dialogue has been stagnant or at least has not made substantial progress over the past four years." However, the diplomat did not specify any particular issue in his remarks during a forum in Beijing.

High-Level Economic Dialogue Between EU and China Expected in September

The EU representative in Beijing added, "We want to engage with China, but we need to make progress this year," stating that a high-level economic dialogue between the two sides is likely to be held in September.

China Seen as Partner, Competitor, and Systemic Rival by the EU

He also affirmed that China is currently a partner, competitor, and systemic rival to the European Union.

European Commission Reveals Strategy to Address Economic Security Risks, Focusing on China

Last month, the European Commission unveiled a strategy to address economic security risks affecting the bloc, with a particular focus on China.

Dispute between EU and China Intensifies over China's Ambiguous Stance on Russian Invasion of Ukraine

One of the most contentious issues between China and the EU is the Chinese position on Russia's invasion of Ukraine. China has not recognized Russia's annexation of the occupied territories in Ukraine but has refrained from condemning the military intervention.

Spanish Ambassador Warns Ukraine Could Make or Break EU-China Relations

Rafael Dezcallar Mazarredo, the Spanish ambassador to China, warned that "Ukraine... is the issue that can make or break relations between the European Union and China." He further stated during the same forum, "It can significantly improve or lead to an extremely negative path."

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