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European Union gets better access to Chinese market after key accord

Investment deal, to come into force in 2022, brings 7 years of negotiations to a closure, but risks EU tensions with US

Photo: Reuters
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Photo: Reuters

Jonathan Stearns | Bloomberg
The European Union (EU) and China announced the political approval of a long-sought agreement to open the Chinese market further to EU investors, marking an economic victory for both sides.

The breakthrough in negotiations on an EU-China investment accord signals the bloc’s determination to focus on economic opportunities in Asia even amid criticism of Beijing’s record on human rights. The accord could enter into force in early 2022, according to EU officials.

The deal, in the works since 2013, is also a salvo against the “America First” challenge to the multilateral order by outgoing President Donald Trump. The EU has lambasted Trump’s

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First Published: Dec 31 2020 | 2:27 AM IST

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