Does EU have a trade agreement with China?

The EU-China Investment Agreement is central to the EU’s long-term bilateral relations with China. Negotiations for the Investment Agreement began in 2013. On 30 December 2020, the EU and China concluded in principle the negotiations on the Comprehensive Agreement on Investment (CAI).

What is in the EU-China investment treaty?

The Agreement The EU-China CAI is an investment agreement which does not include trade issues and is mainly based on existing obligations under WTO law. As such, the Agreement in Principle revolves around three main issues: investments, sustainable development, and monitoring and enforcement mechanisms.

Is China dependent on EU?

TRADE AND INVESTMENT DEPENDENCE. China’s rapid development and its central role as a driver for globalization have resulted in rapidly expanding economic ties with the EU over the past two decades. Between 2000 and 2019, the volume of trade expanded nearly eightfold to EUR 560 billion.

What is the EU trade agreement called?

The Comprehensive and Economic Trade Agreement
About the Agreement The Comprehensive and Economic Trade Agreement, or CETA, is a trade deal between the EU and Canada. It aims to boost trade and help generate growth and jobs. CETA will: lower customs tariffs and other barriers to trade between the EU and Canada.

How much does the EU trade with China?

EU exports to China were highest in 2021 (€ 223 billion) and lowest in 2011 (€ 127 billion). EU imports from China were highest in 2021 (€ 472 billion) and lowest in 2013 (€ 239 billion).

What is comprehensive investment agreement?

The ASEAN Comprehensive Investment Agreement (ACIA) is ASEAN’s main economic instrument to realise a free and open investment regime.

Will the CAI be ratified?

On May 20, 2021, the European Parliament voted to suspend ratification efforts of the “in principle” Comprehensive Agreement on Investment (CAI) with China. The deal must be approved by the European Parliament and the EU Council, which consists of all 27 heads of state, before it can become law.

How much trade does China do with the EU?

China was the largest exporter and the second largest importer in the world in 2020. In 2021, China was the second largest partner for EU exports of goods (10.2 %) and the largest partner for EU imports of goods (22.4 %).

Why was CETA formed?

CETA is a way to further deregulate and privatize the Canadian economy while increasing corporate power and undermining Canadian and European efforts to address the climate crisis.

Is there a free trade agreement between US and EU?

Despite the US being the EU’s largest trading partner, there is no dedicated free trade agreement between the EU and the US. The Transatlantic Trade and Investment Partnership (TTIP) negotiations were launched in 2013, but ended without conclusion at the end of 2016.