The free trade agreement between the EU and Vietnam includes the almost complete abolition of all customs duties.
The EU is currently negotiating greater control over investment from China. At an event in Brussels, representatives of the mechanical engineering sector argued in favour of market opening in China rather than investment barriers in Europe.
A Patchwork in Europe causes high bureaucratic expenditure within companies.
The mechanical engineering industry benefits from investment from abroad. VDMA therefore rejects the proposal to expand European investment controls that is currently under discussion by the European Parliament.
Politics must not pass the responsibility for counterterrorism and protection of human rights to companies, warns VDMA.
The EU calls for more consistency in the protection of intellectual property rights across all member states. However, the greatest proportion of product piracy cases originates outside Europe.
To coincide with the visit by Chinese Premier Li Keqiang to Brussels, VDMA is calling for the investment agreement between the EU and China to be concluded soon.
The European Commission has set out its vision of international cooperation in its paper “Harnessing globalisation.” VDMA warns against giving in to calls for isolationism in Europe.
The European Commission plans to extend export controls on products which can be used for civil and potentially military purposes. VDMA is in favour of an objective debate but considers the proposals disproportionate.
Niels Karssen
Niels Karssen
Trade and Legal
+32 2 7068207
+32 2 7068210