China said talks on a bilateral investment deal with the European Union are in the final stages, as they push for an agreement before the one-year deadline, citing progress between the negotiators.
The talks are now in the final stages, Chinese Foreign Ministry spokesman Wang Wenbin said in a briefing in Beijing on Friday. “As long as I believe both sides can take care of each other’s concerns and move on Towards One by one, we will be able to achieve the goals set by our leaders. ”
An earlier report from the South China Morning Post stated that the two sides had reached an agreement in principle after receiving support from German Chancellor Angela Merkel and French President Emmanuel Macron. The report added that Germany said the agreement would be discussed on Friday between the 27 representatives of the EU group.
Deal – known as Comprehensive investment agreement – Economic ties between China and the EU are likely to be reshaped despite the political divisions remaining. Bilateral trade exceeded 6 50,650 billion last year and the new agreement aims to build on that.
On Thursday, Chinese Commerce Ministry spokesman Gao Feng said in a regular briefing that the two sides held consultations focusing on the remaining issues and made “significant progress”. “Both teams will work hard to achieve the negotiating goals set by the leaders of both parties,” he said.
The agreement will be the second significant bilateral economic deal between the EU and China this year, after conditions were agreed on in July 2020, said Jર્ગrg Wattke, president of the European Union Chamber of Commerce in China.
“CAI should increase the reach of European companies in the world’s fastest growing market, and provide a framework that allows them to compete on a level playing field while protecting Chinese companies in their larger market.” This week.
While the deal represents a diplomatic victory for both parties, it will be particularly welcomed by Beijing as it offers an opportunity to re-establish relations with the EU that have cooled more and more in recent years.
Brussels has become more vocal in it China’s criticism of a range of issues, ranging from human rights violations to the increasing militarization of its South China Sea, mainly in the Muslim Xinjiang region. The EU has also expressed concern over new national security laws in Hong Kong that reduce independence in the former British territory.
Reaching an agreement was not easy. Talks started in 2013 Provisions have been drawn up to open up and eliminate the Chinese market, which is seen as a discriminatory practice by the European Union.
The European Union also sought commitment from China on sustainable development issues, including labor issues – an area that has become a major obstacle to concluding the deal.
– With the help of Colum Murphy, Lin Xu, Jing Lee and James Major
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