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New investment treaty draft by end of 2015
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CHINESE and European Union leaders discussed a new investment treaty at a meeting yesterday.
They will aim to finalize a draft of the agreement by the end of this year, Chinese Vice Premier Ma Kai said after the fifth China-EU High Level Economic and Trade Dialogue, which he co-chaired with European Commission Vice President Jyrki Katainen.
“Europe has confidence in the Chinese economy, and China has confidence in European economic recovery,” Ma said.
Katainen said: “The economy and trade should be at the heart of the EU-China relationship. I’m convinced there is potential to deepen this relationship.”
The two sides discussed integrating the Belt and Road network with the Investment Plan for Europe and establishing a China-EU joint investment fund.
The Belt and Road initiative was proposed by Chinese President Xi Jinping in 2013 with the aim of reviving the ancient trade route between Asia and Europe. The Investment Plan for Europe is initiated by European Commission President Jean-Claude Juncker to boost the European economy.
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