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European Union officially halt the ‘investment agreement’ with China

The European Parliament has urged China it will not to approve a long-awaited trade investment deal as long as consents against European Union legislators remain in place.EU politicians embraced a resolution in which they denounced “the baseless and arbitrary sanctions” inflicted by China on European people and organizations in March.The European Parliament’s objection was sounded by European Commission Vice President Valdis Dombrovskis, who said after a meeting of EU trade ministers that China’s consents haven’t made a positive atmosphere for a contract to be settled.”We cannot see this process of ratification outside of the broader context of EU-China relations,” he said.

The European Parliament stated China’s consents amount “to an attack on basic freedoms and urge the Chinese officials to raise these unjustified conditional rules”.The text was passed in a 599-30 vote with 58 abstentions. Among those aimed were five members of the European Parliament: Reinhard Butikofer, Michael Gahler, Raphael Glucksmann, Ilhan Kyuchyuk, and Miriam Lehmann.China started its consents move after the EU, the UK, Canada, and the US drove coordinated approvals against administrators in China over human rights violations in the far western Xinjiang province. The European Parliament’s stubborn attitude is expected to pause the acceptance of the multi-billion investment agreement that was granted in principle in December and requires lawmakers’ permission to take effect. In addition to the lifting of permissions, lawmakers said they will take into record the human rights situation in China when determining to support the contract.

The EU believes the agreement, known as CAI, will help improve an asymmetry in the market path and build new investment possibilities for European firms in China by guaranteeing they can fight on an equal basis when working in the nation.EU companies face contest from state-owned Chinese companies that may get government assistance and more comfortable way to funding.”We were going to tackle the trade imbalance. But if you see what came out over the past months, we have extreme worry about human rights violations, especially if you look at slave labor,” Dutch Foreign Trade Minister Sigrid Kaag said.

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“And many companies are investing in Xinjiang and it is unclear how the production happens and if slave labor is being used.”Chinese Foreign Ministry representative Zhao Lijian said on Wednesday that the agreement is “a balanced, mutually beneficial and win-win agreement, not a gift from one party to the other.”Second, China’s sanctions on the relevant EU institutions and staff who have long maliciously advertised lies and false news on Xinjiang concerns and severely damaged China’s freedom and interests are necessary to safeguard its national interests,” Zhao said at a regular news briefing.”It is also a necessary, legitimate, and just response to the European side’s confrontation with consents. It is obvious that who irrationally made troubles first and who was forced to take legitimate response.”

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