Italy’s top official: trade with China must be built on fairness

Italian Deputy Minister for European Affairs Amendola (pictured): Trade with China must be built on a basis of fairness.

Bloomberg quoted a senior Italian official as saying that the EU wants to establish a more reciprocal economic and trade relationship with the Communist Party of China, including in terms of market access and state aid rules, based on a two-way and reciprocal approach. (Fang Dehao reports)

“The European Union is reflecting on its relationship with the Chinese Communist Party,” said Vincenzo Amendola, Italy’s deputy minister for European affairs, in an interview with Bloomberg TV on Tuesday. “I think it’s a positive move, rather than being all about exports and trade, as it has been in the past.”

The EU has recently hardened its stance against the Chinese Communist Party, working closely with the U.S. Biden administration. Following sanctions against Chinese Communist Party officials involved in human rights abuses, the EU has frozen an investment agreement with Beijing. The Italian government also blocked a Chinese takeover, and the EU has developed a strategy to counter takeover attacks by Chinese Communist Party state-owned companies.

Amendola said the EU is reviewing its relationship with the Communist Party to ensure it is reciprocal, from legal standards to competition rules and state support for private companies. “Unfortunately,” he added, that has not always been the case recently.

“Europe is a global player,” Amendola said. “We hope that those who benefit from our rules in the European market will also apply them reciprocally in their own markets.”