The European Union and China have completed talks on a comprehensive investment cooperation agreement, President of the European Commission (EC) Ursula von der Leyen noted following a video conference between the EU and China.
"The EU has the largest single market in the world. We are open for business but we are attached to reciprocity, level playing field & values. Today, the EU & China concluded in principle negotiations on an investment agreement. For more balanced trade & business opportunities," Ursula von der Leyen tweeted.
The EU has the largest single market in the world. We are open for business but we are attached to reciprocity, level playing field & values.
— Ursula von der Leyen (@vonderleyen) December 30, 2020
Today, the EU & China concluded in principle negotiations on an investment agreement.
For more balanced trade & business opportunities. pic.twitter.com/zURkyE2yX4
According to Xinhua news agency, the deal was reached following a video conference held on Wednesday with the participation of Chinese President Xi Jinping, French President Emmanuel Macron, German Chancellor Angela Merkel, European Council President Charles Michel, and European Commission President Ursula von der Leyen.
Talks between the EU and China on an investment agreement have been going on since 2013. It is supposed to improve conditions in the Chinese market for European investors and cover a number of key areas, including finance, telecommunications, and electric vehicle production. Thus, European businesses will receive more favorable conditions in expanding access to the Chinese market than American businesses.
