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    China-EU GI Agreements--New Booster for forging CN/EU Trade


    4/8/2021|INSIGHTS

    The China-EU Geographical Indication (GI) Agreements entered into force on March 1, 2021 after the negotiation of 8 years. People from all walks of life in European Union believe that the agreement will better protect the well-known brands in China and EU, and boost the bilateral trade cooperation and economic developments. 

    1. The well-known Brands are well protected by the agreement.

      Geographical indications (GIs) are indications, as one type of important intellectual property rights, identifying a good as originating in the territory of a country, or from a region or a locality within that territory. The EU-China GI Agreement covers a total of above 500 mutual recognition of GIs between China and Europe, including wine, tea, agricultural products,food, and some Chinese traditional products, like Chinese art paper, Sichuan figured satin, etc. Vincent Perrin, Chairman of Comite Champagne (CIVC) said that the EU-China GI Agreement will better protect the various GI products in China and Europe. China has an increasing emphasis on GIs and Chinese customers pay more attention on authentic products, he added. Rudolph Ramesh, CEO of Wine Paris, said that the agreement indicates EU’s aspiration of cooperating with China. The protection on EU’s GI products, well-known for good quality and diversity is conductive to safeguard their authority and reputation, but also to satisfy Chinese customers’ needs. Salus Alvares, President of Priorat Wine Chateau, told Xinhua News that the protection on the famous brands is to maintain the high quality, and the protection on the geographical indication products is of vital importance in the process of globalization.”

    2. The bilateral trade is further developing.

      In 2020, the EU-China trade value has reached 649.5 billion dollars, and China has become EU’s largest trade partner. Therefore, the EU-China GI Agreement will provide new impetus for the bilateral trade development. At present, as the second largest export destination, China is a highly potential export market for European food and drink. According to the statistics, the annual export value of European GI products reached 20 billion dollars, accounting for above 15% of the total of food and drink. At present, about 1,600 GIs are under protection of European Union. Livio MaZZanti, China Business Manager of Marchesi Chateau, said that the agreement coming into force is good for wine industry and Chinese agricultural products liked by many Italians. It can also promote the bilateral trade and cultural exchanges, because it is convenient for the well-known European products to be marketed, and the European customers can easily buy the authentic Chinese products. About 10% Priorat products are sold to China now, and in the future, we believe the ratio will be increased to 25%, Alvares added. Karsh Karmovsky, Chairman of Polish Spirits Industry Association, said that the EU-China GI Agreement can provide more business opportunities for Polish vodka distillery, and a good chance for developing Polish vodka.