Vincent Piket | EU-China bilateral relations have ‘developed extraordinarily’

Vincent Piket

The head of the European Union Office in Hong Kong and Macau, Vincent Piket, said that EU-China trade relations have “developed extraordinarily” over the years and have improved in areas such as the environment.
On the day that marked the 40th anniversary of the establishment of diplomatic relations between the EU and China, Piket said that bilateral relations have been improving quickly, drawing attention to the fact that “trade has surged, reaching over MOP1 billion per day.”
The Dutch diplomat also said that the relationship between the EU and China – which is the second largest world economy – has evolved “from a predominantly trade-based relationship to a strategic partnership.”
“The kind of dialogue that we have developed is extraordinary. It includes all areas of the political sphere, from the economy to the environment, to transport, customs and media to climate changes, emission trade, research and innovation,” Mr Piket noted.
The EU Office head said that one of the highlights of the past four decades has been China’s membership to the World Trade Organization. This facilitated bilateral investments easier.
According to the diplomat, the next “big step” will be finalizing the negotiations on a bilateral trade agreement. “The EU internal market is open to trade and investment – that liberalization work is done – but in China there are several areas in which the [foreign] investment is not possible and that affects entrepreneurs. The negotiation regards the opening of the Chinese market to European investments within the next few years. That is crucial,” Piket said.
A China-EU summit will be held next month, with issues like regional security and environment on the agenda. Regarding the latter, Vincent Piket stressed that “recent statements made by Chinese authorities are encouraging,” and the EU hopes that Beijing will establish an “ambitious target” to reduce greenhouse gas emissions. MDT/Lusa