China News Service, February 24, Minister of Commerce Wang Wentao pointed out on the 24th that the China-EU investment agreement negotiations had been completed as scheduled at the end of last year.
At present, the two parties are carrying out the review and translation of the text, and in accordance with the established procedures, strive to sign as soon as possible.
Data map: container terminal.
Photo by China News Agency reporter Wang Dongming
On the 24th, the State Council Information Office held a press conference on accelerating high-quality business development and building a new development pattern in services.
A reporter asked at the meeting that China and the EU have substantially concluded negotiations on the China-EU Investment Agreement. When will the agreement be signed?
How to view the future development of China-EU economic and trade relations?
Wang Wentao said that China and European countries have very close economic and trade relations, and under the impact of the 2020 epidemic, they have shown great resilience and potential.
The trade volume between China and the EU increased by 4.9%, reaching 649.5 billion U.S. dollars. For the first time, China became the EU's largest trading partner.
The investment confidence of both parties remains undiminished. The European Union's direct investment in China is US$5.7 billion, and China's direct investment in Europe is US$4.7 billion.
The Geographical Indications Agreement signed last year will take effect on March 1 this year.
Wang Wentao pointed out that the China-EU investment agreement negotiations were completed as scheduled at the end of last year. The completion of the negotiations is a landmark event in China-EU economic and trade relations, and in the EU's words is a milestone.
This investment agreement is a high-level, balanced, mutually beneficial and win-win agreement. It also creates a lot of investment opportunities for the companies of both parties and creates a better business environment. This is not only beneficial to China, but also beneficial to the EU. Conducive to the recovery and growth of the world economy, this is a win-win situation.
"At present, the two parties are carrying out the review and translation of the text, and in accordance with the established procedures, strive to sign as soon as possible."
Wang Wentao emphasized that China and the EU are partners, not rivals. China-EU cooperation is far greater than competition. Both parties should expand their common interests in cooperation and solve problems in development.
China is willing to continue to strengthen anti-epidemic cooperation with the European side, jointly promote China-EU pragmatic cooperation in economic and trade, green and digital fields, maintain the stability of the global industrial chain and supply chain, and help the recovery and growth of the world economy after the epidemic.