China and EU to speed up negotiation on investment agreement

epa08076425 Chinese Foreign Minister Wang Yi looks on prior to a meeting with European Council President Michel at the EU Council headquarters in Brussels, Belgium, 17 December 2019. Wang is on an official visit to Brussels as part of his trip to Europe. EPA-EFE/JOHN THYS / POOL

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China and the European Union will accelerate negotiations in order to conclude a ChinaEU investment agreement by the end of this year, Chinese Vice Premier Liu He said on Tuesday.

China and the EU will also continue to strengthen macro economic policy adjustments and implement effective fiscal and monetary policies to push forward global economic recovery, Liu said in a statement published by China‘s ministry of commerce.

Liu was speaking after an online meeting with European Commission executive vice president Valdis Dombrovskis.

On fighting the coronavirus pandemic, which has killed more than 650,000 people around the globe, China and the EU will work on virus prevention, vaccine development and exchanges of professionals through further bilateral cooperation, the statement said.

China and EU will further expand trade in agricultural products, the statement said.

EU Commission Vice-President Dombrovskis said: “The current crisis gives us no other option but to work hand in hand with our global partners, including China. By pulling together we can recover more quickly economically, and make progress on areas of mutual interest such as trade and investment relations. However, we also need to address sticking points such as reciprocity in the way our companies are treated. We will need to make further progress on these and other issues ahead of the next leaders’ summit in the autumn.”

via European Commission and Reuters

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