Li urges efforts to close BIT talks early
Print Edition
PREMIER Li Keqiang has called on China and the United States to make efforts for an early conclusion of their bilateral investment treaty negotiations.
The two countries have agreed to BIT talks on the basis of pre-establishment national treatment (PENT) plus a “negative list” approach. It is the first time that China has adopted the model in BIT talks with foreign countries, Li said, noting that this showed the importance China attaches to BIT talks.
PENT means that foreign investors and their investments will be accorded national treatment in the pre-establishment phase of their businesses.
Li told visiting former US Treasury Secretary Henry Paulson in Beijing that through the BIT talks, both sides sent a positive signal to the world that China and the US support trade and investment facilitation and liberalization.
China hopes the two sides will work flexibly and pragmatically on the talks to produce positive results and reach a high-level investment treaty, so as to realize mutual benefits, Li said.
China and the US started BIT negotiations in 2008.
Speaking highly of the Paulson Institute’s role in promoting China-US cooperation, Li urged the institute to make a greater contribution to a healthy and stable China-US relationship.
Li’s trip to New York last month yielded positive results and was beneficial to China-US ties, Paulson said, stressing that the institute was ready to enhance exchanges and cooperation with China.
Yesterday, Vice Premier Wang Yang held a meeting with Paulson and members of the CEO Council of Sustainable Urbanization to exchange views on China-US economic ties, as well as other issues of common concern.
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