‘EU-China deal needed ur­gently’

New Straits Times - - Business -

BEI­JING: The need for an Euro­pean Union-China in­vest­ment agree­ment is ur­gent and would be the eas­i­est way for Chi­nese Pres­i­dent Xi Jin­ping to meet pledges of mak­ing China’s econ­omy open to the world, said Euro­pean Com­mis­sion vice-pres­i­dent Jyrki Katainen yes­ter­day.

Host­ing world lead­ers on the sec­ond day of a two-day sum­mit Xi said yes­ter­day that it was cru­cial for his sig­na­ture for­eign pol­icy and global devel­op­ment plan to “re­ject pro­tec­tion­ism”.

“Pres­i­dent Xi has re­peated this mes­sage sev­eral times now, and it is a good sign and we want to help him de­liver. The eas­i­est way to de­liver what he has said is to speed up EU-China in­vest­ment agree­ment ne­go­ti­a­tions,” said Katainen.

Such an in­vest­ment deal was “ur­gently needed” to boost busi­ness links be­tween the two sides, he said.

China and the EU are set to hold their own sum­mit in Brus­sels in early next month, dur­ing which the Com­pre­hen­sive Agree­ment on In­vest­ment cur­rently un­der ne­go­ti­a­tion will be a cen­tral fo­cus. Reuters

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