China and the EU Come to Agreement

The EU has recently decided to drop its threat to levy punitive tariffs on Chinese telecoms exports. Beijing agreed to talk about limiting its exports credits to Chinese firms in the telcoms sector. showing the EU that it will heed the international binding rules on corporate subsidies.

As Karel De Gucht, the EU Trade Commissioner, said “The EU and China have resolved the telecoms case. The investigation into mobile telecommunications networks from China will not be pursued.”

Both sides have agreed that they will have an independent authority who will monitor market shares of Chinese companies in Europe and European firms that are in China. As the article on DW explained,

“Imports of Chinese telecoms equipment to the EU are worth some 1 billion euros ($1.3 billion), bringing the Asian nation into fierce competition with Europe’s sector heavyweights such as Ericsson, Nokia Siemens Networks and Alcatel-Lucent.”

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