European Commission, Brussels, 31 March 2014:
On the occasion of the visit of the
President of the People's Republic of China, Xi Jinping, to Brussels,
the EU announced its strong support for China joining ongoing
negotiations to liberalise trade in services. The EU's position is
reflected in the EU-China joint statement issued at the Summit.
'I am very pleased with the successful outcome of the visit of President Xi Jinping,' said EU Trade Commissioner Karel De Gucht after meeting the Chinese President. 'China
has reassured the EU that it shares the objectives of the TiSA
negotiations and that it would respect the results of the negotiation
achieved by other participants if it joins. As a result, the EU will now strongly support China's swift participation in the Trade in Services Agreement (TiSA) negotiation.'
TiSA is an initiative open to
all WTO members interested in further liberalising trade in services.
Launched in March 2013, the talks currently involve 23 WTO members,
although the negotiations themselves are not being held within the WTO
itself due to a lack of unanimous support among the organisation's
membership.
Last year, China expressed its
interest in joining TiSA and in September submitted its application to
participate in the talks. The EU supports China's bid because the EU's
strategic objective is to build an agreement with broad participation.
The debate over China's participation has been difficult, however, due
to concerns expressed by some TiSA participants.
Ahead of and during President Xi
Jinping's visit, Beijing undertook efforts at senior political level to
meet the objectives and the level of ambition of the TiSA negotiations,
as well as to accept, if and when it finally joins, what will have been
agreed on by the current participants. These reassurances paved the
way for the EU's public support for China joining the talks.
The EU's support for China will
carry weight in getting a consensus between the participants of TiSA
talks required for China's participation.
Background
The TiSA negotiations cover all
services sectors, including information and communication technology
(ICT) services, logistics and transport, financial services and services
for businesses. The EU – like the other participants – wants the
negotiations to go beyond simply further opening up markets for
services. The aim is also to develop new rules on trade in services,
such as those applying to government procurement of services, licensing
procedures or access to communication networks.
The current participants in the
negotiations are Australia, Canada, Chile, Chinese Taipei, Colombia,
Costa Rica, the EU, Hong Kong China, Iceland, Israel, Japan, Korea,
Liechtenstein, Mexico, New Zealand, Norway, Pakistan, Panama, Paraguay,
Peru, Switzerland, Turkey, the United States.
For the EU, trade in services is
of strategic importance, the sector accounting for some three-quarters
of EU gross domestic product (GDP) and of EU jobs. Within the EU,
cross-border trade in services accounts for around 30% of EU trade, and
Foreign Direct Investment (FDI) in Services (to be covered by the scope
of the future agreement) represents around 70% of the EU's FDI flows and
around 60% of our FDI stock.
[europa.eu]
31/3/14
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