My first blogpost of 2021 and its on a relatively less discussed subject - the EU-China Investment agreement being negotiatied.
News that there is in-principle approval to the deal is coming out. The strategic implications of the deal are discussed here.
Highlights of the video:
1. The Agreement will replace all the existing BITs between China and EU Member States
2. It has been negotiated for a long, long time.
3. May require ratification from EU Member States depending on the content.
4. Further market access to EU firms in China based on the removal of restrictions and conditions in the negative list of China
5. More stability and predictablity if commitments in blateral treaty than domestic law - so though domestic may have liberalised conditions for business already and this is reassuring, ofreign businesses look at their inscription in clear term sin international agreements - for on ebasic reason - yes, dispute resolution
6. Not clear if the EU multilateral investment court is part of the draft agreement
Would be interesting to see the finer detals of the agreement once it is public - what standards it sets for substantive provisions, what remains out of the ambit of the agreemenst, how self-judging will the national security exception be?