An EU investment and market access agreement with China would replace the bilateral agreements that most individual member states currently have with China. It would tackle “behind the border” issues – including regulatory impediments prejudicial to foreign investors. These are important not least because of the expanding role of cross-border supply-chains and services, including financial services in international trade.
If the EU were to reach a bilateral deal with China it would be less far- reaching than, say, the comprehensive, “deep integration” free-trade deal between the EU and South Korea implemented in 2011. Last month (17 September) the European Parliament, which was given new trade powers by the EU's Lisbon treaty, conditionally approved the opening of one-on-one talks with China, according to European Voice.
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