Macron Says EU, China to Sign Deal on Product Origin Labeling
Macron Says EU, China to Sign Deal on Product Origin Labeling
(Bloomberg) --
China and the European Union will sign an accord to protect products that have a specific geographical origin -- such as Champagne or Manchego cheese -- in a bid to fight counterfeits, according to French President Emmanuel Macron.
The accord will be signed in Beijing on Wednesday, Macron told business representatives at a trade fair in Shanghai. The EU is China’s largest trade partner, while the Chinese market is the second biggest for exports from the bloc after the U.S.
The market for EU geographical indications is around 54 billion euros ($60 billion), according to the European Commission. The labeling is meant to give exclusive rights to the names of the products linked to the production areas, including wines areas like Champagne, Proven, Margaux or cheeses production regions like Comte and Roquefort. Authorities will agree on a list of 100 European areas, Macron’s office said.
The accord comes seven months after the EU said it signed a joint statement signaling important Chinese concessions over curbing subsidies to domestic industries and facilitating market access for foreign companies.
To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net
To contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Richard Bravo, Caroline Alexander
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