18:43 GMT20 September 2020
Listen Live
    Europe
    Get short URL
    by
    3161
    Subscribe

    The major deal between Beijing and Brussels aims at boosting bilateral trade between the two powers amid protests from the Trump administration, who has urged to form a "coordinated" transatlantic policy with its European allies in a bid to block China in Washington's trade war.

    An agreement between the European Union and China was signed on Monday to preserve geographical indications (GI), reports revealed.

    Roughly 100 European and Chinese GIs will be protected under the document, including products such as champaign, whisky, Ouzo, Porto, Anji bai Cha (Anji white tea), Pixian Dou Ban (bean paste) and numerous others, Pandaily reported.

    Chinese minister of commerce, Zhong Shan, German envoy to China, Ge Ce, and EU envoy to China Yu Bai signed the agreement, the report said, adding the agreement aims to boost the list up to 175 products from each side in four years.

    GIs label product origins and their reputation and qualities, protecting such goods from third parties and their products failing to meet regional standards or imitating them, the World Intellectual Property Organisation notes.

    “The EU-China GI agreement is a landmark treaty between the European Union and the People’s Republic of China. It is a concrete example of cooperation between two parties and reflects openness and adherence to international rules as a basis for trade relations,” an EU statement read.

    According to the report, cooperation began in 2006 and led to 10 GIs from both sides being added to a list in 2012, with talks concluding in 2019 and the deal set to enter force in 2021.

    “I am proud to see this agreement getting one step closer to its entry into force, reflecting our commitment to work closely with our global trading partners such as China,” Janusz Wojciechowski, EU agriculture and rural development commissioner, said in a statement.

    The GI agreement would also help to protect authenticity and preserve the reputation of European goods as well as strengthen EU trade with China, he added.

    According to EU figures, China was the third-largest destination for EU agricultural goods at 117bn yuan (€14.5bn) and was the second-largest destination for European GI-protected products.

    “Cooperation between EU and China in new areas are expanding, such as digitalization and high-end service industries, though European companies were complaining about the Chinese market, such as market access, level playing field, [labour] rights protection, etc.,” Wang Yiwei, director of the Institute of International Affairs at Renmin University, said in a statement.

    The agreement could also help both sides explore more trade and investment potential between China and Europe and also promotes globalization, he concluded.

    EU-China Trade Set To Blossom, US Engages In 'Tug Of War' Amid US-China Trade War

    The news follows the 22nd EU-China summit on 22 June on Brussels, where European Council president Charles Michel, German chancellor Angela Merkel and European Commission president Ursula von der Leyen met Chinese president Xi Jinping.

    "We strive for a relationship that delivers on our mutual commitments. That generates concrete results for both sides. Results that are also good for the world. In some areas, we are on the right track. In others, more work needs to be done,"
    President Michel said at the event.

    To date, an agreement on EU-China investment has become central to the EU's relations with China, with the two sides entering talks in 2013 to boost investment for firms from the two economic powers, transparency as well as expediting licensing procedures, among others. Concerns such as the environment, trade and human rights were also discussed.

    But pressure from the United States has demanded the EU to implement "action-oriented" dialogue on Beijing, US deputy secretary of state Stephen Biegun said in a Senate Foreign Relations Committee testimony in July

    He added the EU and US shared "democratic ideals" and talks should lead to "more coordinated policy outcomes that will advance our shared interests", citing engagement with allies in the G7, G20 and North Atlantic Treaty Organisation (NATO).

    Related:

    US-EU Dialogue on China to Be 'Action Oriented' for More Policy Outcomes, State Dept Official Says
    Left-Wing Groups Hold Demonstration in Leipzig Despite EU-China Summit Cancellation - Video
    Chancellor Merkel and Top EU Leaders Hold Presser After Meeting With China's Xi Jinping - Video
    EU-China Cooperation Should Be Based on Reciprocity, Fair Competition - Merkel
    Tags:
    Xi Jinping, Angela Merkel, Ursula von der Leyen, Charles Michel, Trump administration, US State Department, agriculture, protected geographical indication (PGI), bilateral summit, bilateral talks, bilateral trade, bilateral ties, China, European Union
    Community standardsDiscussion