EU threatens to freeze huge investment deal with China

EU threatens to freeze huge investment deal with China

SeattlePI.com

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BRUSSELS (AP) — The European Parliament warned China on Thursday it won't ratify a long-awaited business investment deal as long as sanctions against European Union legislators remain in place.

EU lawmakers adopted a resolution in which they condemned “the baseless and arbitrary sanctions" imposed by Beijing on European individuals and institutions in March.

The European Parliament’s criticism was echoed by European Commission Vice President Valdis Dombrovskis, who said after a meeting of EU trade ministers that China’s sanctions haven't created a favorable environment for a deal to be concluded.

“We cannot see this process of ratification outside of the broader context of EU-China relations,” he said.

The European Parliament said Beijing’s sanctions amount “to an attack on fundamental freedoms and urge the Chinese authorities to lift these wholly unjustified restrictive measures.”

The text was approved in 599-30 vote with 58 abstentions.

Among those targeted were five members of the European Parliament: Reinhard Butikofer, Michael Gahler, Raphael Glucksmann, Ilhan Kyuchyuk and Miriam Lexmann.

China made its sanctions move after the EU, Britain, Canada and the United States launched coordinated sanctions against officials in China over human rights abuses in the far western Xinjiang region.

The European Parliament's hard stance is likely to delay the ratification of the multi-billion investment accord that was agreed in principle in December and needs lawmakers' approval to take effect.

In addition to the lifting of sanctions, legislators said they will take into account the human rights situation in China when deciding to greenlight the multi-billion deal.

The EU hopes the agreement, known as CAI, will help correct an imbalance in market access and create new...

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