|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

EU to Strike 2020 Investment Deal with China

BEIJING The European Union is working to strike a bilateral investment agreement with China that has been on the negotiating table for seven years, the new EC Commissioner for Agriculture and Rural Development said Thursday.

At a press conference in Beijing, on the back of a Geographical Indications deal that was agreed on Wednesday in China, Phil Hogan said the main obstacles to the investment agreement were those related to industrial subsidies, market access and technology transfers.

After eight years of negotiations, China and the EU agreed to grant special protection to European denomination products in the Chinese market and Chinese denominations in the European market.

The deal will protect regional food names of European products such as French cognac, Bordeaux, Comte cheese, Catalan cava and Manchego cheese.

Hogan told reporters that China wants to work closely with the EU and that both areas have a bilateral trade of about $1.7 billion daily.

The commissioner added that the aim was to achieve a dynamic market and added that the deal was a good sign that progress can be made in the realms of investment and trade.

The deal will fulfill a key trade target the EU has to penetrate the Chinese market and will prop up the export of high-quality agricultural products to China which is the second top importer of European agriculture and food exports.

The agreement will also work to meet growing demand for protein in China.

When asked about reforms to the World Trade Organization (WTO), Hogan said it was essential to maintain a multilateral trading system.

The commissioner said China and the EU had a similar position on the matter, unlike the United States.

The EU agenda is independent of that of the US, he said.

Hogan added that the EU was the only entity that was holding talks with China to resolve commercial issues such as the WTO reform.

The main difficulties both parties encountered in the negotiation process of the investment deal was the issue of subsidies, which Hogan described as complex.

The commissioner said before delving into a free trade agreement between China and the EU the bilateral investment agreement must first be closed.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2019 © All rights reserved