Tender Agreement Proz
11th October 2021
Tiktok User Agreements
11th October 2021

The fact that it is still under negotiation indicates that china-EU relations still have a long way to go to reach common ground. If the agreement is signed, it will be a turning point in their bilateral investment relations. Access to financial markets under the Phase 1 agreement The EU is right to refer to the Phase 1 agreement, given that the EU and US financial service providers have the same dysfunctions when it comes to access to the Chinese financial market. What is embarrassing is that the concessions obtained between China and the US are reciprocal, which means that they will not extend to the EU or other third parties. If China implements further reforms and thus meets the EU`s requirements, trade and investment between the two regions will inevitably increase, given legal safeguards such as transparency of subsidy rules and policies and a level playing field in the market. As far as the EU is concerned, it must recognise that china`s national treatment upon accession to the WTO is subject to its GATS timetable, including financial services. This is why the EU`s requirements are WTO plus in nature and are based on the principle of reciprocity. In other words, China has not failed in its WTO obligations, other than to protect its financial market through bureaucracy, as it has done for electronic payment services. Beyond the first phase of the agreement, the EU must again be pragmatic in recognising that alternative and competitive concessions inside and outside the financial services sector could be “a potential landing zone” on the basis of national treatment. Finally, China remains the EU`s second largest market, with many opportunities for EU companies.

Interestingly, according to the China Business Confidence Survey 2020 published by the European Union Chamber of Commerce, 62% of members of European chambers would be more likely to increase their investment in China if greater access to the Chinese market were granted. The current impasse between the EU and China over access to financial markets reminds us that 20 years ago, the EU also wanted to negotiate a financial services agreement with Beijing that went beyond what the US had achieved. At first, the attempt failed. Operating conditions, including majority ownership, of EU life insurance companies in China are a key theme in the EU-China bilateral negotiations on China`s accession to the WTO. Beyond purely bilateral relations, their trade and investment behaviour is also influenced by other external factors related to their global role and their relations with other countries and regional alliances. Among other things, the trade war between the United States and China has certainly played a key role in this regard. Clearly, the EU and China have a significant share of the other`s market; The conclusion of the CAI is therefore in the interest of both…

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