• VDMA: EU must stand by its interests and values
• Refrain China from supporting Russia in the brutal war in Ukraine
• Industry needs a market opening in China and stable investment conditions

Frankfurt/Brussels, 31/03/2022 – Being Europe’s largest industrial mechanical engineering association, VDMA has a clear stance on the upcoming EU-China-summit. Trade relations could be much improved, says Ulrich Ackermann, Head of VDMA Foreign Trade. He adds:

“The European Union is in a complicated phase of its relations with China. The EU must stand by its interests and values. On the one hand, this means influencing China to refrain from supporting Russia in the brutal war in Ukraine. On the other hand, the European mechanical engineering industry needs a level playing field with China. The country is the second largest export market for machinery exports from Germany and at the same time the second largest foreign investment location for the German capital goods industry.We need a foreseeable end to the entry restrictions in China due to the Covid-19 pandemic as well as market opening and stable investment conditions.Ulrich Ackermann, Head of VDMA Foreign Trade

We need a foreseeable end to the entry restrictions in China due to the Covid-19 pandemic as well as market opening and stable investment conditions. The negotiated Investment Agreement between the EU and China would be a suitable instrument for this. However, as long as China does not end its sanctions against institutions and persons from the EU, the Agreement must remain on hold.”