Approval of Massive EU-China Investment Deal UnlikelyReading Time: < 1 minutes
EU sanctions being in place against China, and vice versa, have doused the approval prospects for a massive investment deal between the two sides, says European trade commissioner Valdis Dombrovskis, who said the issue is not conducive for ratification.
Observers point out the deterioration of the relations between Brussels and Beijing, starting in March when Western powers including the EU placed sanctions against officials in the Chinese province of Xinjiang, where human rights violations are alleged against the region’s Uighur minority. Beijing’s counter-sanctions targeted 30 Europeans, including EP members.
The two sides had undergone 7 years of negotiation before December of last year when they agreed to the Comprehensive Agreement on Investment (CAI) whose negotiations were led by Germany, which at the time held the European Council presidency.