The 29 June EU-China summit attended by Chinese Premier Li Keqiang and Presidents Tusk and Juncker marked the 40th anniversary of diplomatic relations between the EU and China. Relations between the first and second global economic powers have developed tremendously over the past four decades and are now set for a further leap forward. The summit agreed a broad-ranging agenda for future cooperation and now the challenge will be to implement agreed policies and finalise negotiations on key subjects such as a bilateral investment treaty (BIT).
Trade between the EU and China has continued to flourish but experts believe that a BIT could give a one per cent boost to economic growth. The EU share of foreign investment in China is 28% while China accounts for less than 5% of overseas investment in Europe. European businesses complain about the lack of an effective legal framework guaranteeing protection of investments, weak enforcement of IPR and forced technology transfer. Chinese businesses complain about the complexity of EU rules and regulations.
By Jess,Xufeng JIA
Russia is increasingly turning towards China as a result of Western sanctions. But although there is much talk and diplomatic support there are few concrete results due to Russia’s structural economic problems. This short-term ‘axis of convenience’ could, however, develop into a more strategic alliance in the future given the right incentives on both sides.
Let me start with a sincere thank you. First of all for the invitation: it is not to be given for granted, that the European Union - that for sure is not an Asian or a Pacific power - is considered relevant in this Dialogue.
Fraser Cameron, Director, EU-Asia Centre, said that the EU and NATO had invested hugely in Afghanistan over the past decade. But as the international community winds down its presence there were several questions over the future of the country and the role of regional actors. Would the upcoming parliamentary elections lead to greater cohesion? Would there be continued insurgency by the Taliban?
EU-ASIA Centre is a think tank dedicated to promoting closer relations between the EU and Asia.