Investment pact tops Li鈥檚 EU agenda
Print Edition
CHINA is determined to open its markets and is positive about promoting talks on an investment agreement with the European Union, a senior Chinese official said ahead of Premier Li Keqiang’s visit to Brussels for a summit with the EU this week.
The summit on Friday will be the first since Donald Trump was elected United States president. In contrast to Trump, both China and the EU are united against global warming and trade protectionism.
China has asked that the annual summit, normally held in mid-July, be brought forward to press home President Xi Jinping’s defense of open trade at the World Economic Forum in Davos, Switzerland, in January.
One outstanding issue involves an investment pact that Beijing and Brussels agreed to negotiate in 2013 to make it easier for European businesses to work in China but which has yet to be sealed. That is seen as a forerunner to a future free-trade accord.
Europe wants China to give EU businesses access to its market in the way that Brussels says European markets are open to Chinese investment.
Li Chenggang, China’s assistant commerce minister, said on Saturday that talks on the investment agreement is one of the most important trade and business topics between the two sides.
“The leaders and business community of China and the EU are paying great attention to these talks. There have been 13 rounds of talks to date, which have made good progress,” Li said. “Both have a consensus about reaching, at early date, a comprehensive, ambitious investment agreement.”
China has always had a positive attitude towards pushing these talks, he added. “Of course, because these talks involve a wide range of topics and are very complex, China and Europe’s point of view on certain issues don’t completely have a consensus.”
China hopes to jointly voice support for an open economy, free trade and investment, global and regional peace and stability with the EU, Belgium and Germany, during Premier Li’s visit. He is scheduled to visit Germany and Belgium from Wednesday to Friday.
While in Germany, the premier is due to meet German President Frank-Walter Steinmeier and Chancellor Angela Merkel.
According to Vice Foreign Minister Wang Chao, Premier Li will attend the 19th China-EU leaders’ meeting in Belgium, together with European Council President Donald Tusk and European Commission President Jean-Claude Juncker. The two sides planned to exchange views on China-EU relations as well as regional and global issues of common concern.
The premier is scheduled to attend a series of activities in Brussels, including a China-EU business summit, a China-EU dialogue on innovation cooperation, and activities marking the China-EU year of tourism, among others, said Wang.
He will also meet Belgian King Philippe and hold talks with Prime Minister Charles Michel. Li and Michel are scheduled to witness the signing of a series of documents on bilateral cooperation.
“The economies of China and Belgium are highly complementary,” said Li Chenggang. The assistant commerce minister added the two sides had great potential for cooperation in many fields, such as chemical engineering, food, finance, microelectronics, biopharmaceuticals, environmental protection and bioscience.
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