#EU #China #Brussel #Agreement

Negotiations have been going on for seven years, now an agreement could be imminent. The EU and China appear to be on the verge of signing an investment deal.
A conversation between President Xi and Commission chief von der Leyen, which could take place on Wednesday, should bring final clarity.

Why is it important?
The agreement is considered to be the most comprehensive attempt by the EU to reorganize its relationship with the second largest economic power China. The goals are more market access and better competitive conditions.
After the USA, China is the second most important trading partner for the Europeans. In the European Union, however, there was resistance to the agreement, for example because of the protection of workers.
The new administration of the elected US President Joe Biden also made it clear, with a view to the negotiations, that they would like to see a vote on how to deal with China very soon.
Biden had made it clear that he was sticking to a tough course against China and wanted to forge alliances with allies like the Europeans. That could be one reason why China now wants an agreement to prevent just that.

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