CCCEU congratulates China, EU on completing negotiations on landmark investment agreement

After 35 rounds of talks, China and the European Union (EU) have completed their investment agreement negotiations as scheduled.

The agreement will provide greater market access, a higher level of business environment, stronger institutional guarantees and brighter cooperation prospects for mutual investment.

China has become the biggest trade partner of the EU while EU is now China's second largest trade partner.

The China Chamber of Commerce to the EU (CCCEU) has extended the warmest congratulations to China and the EU on completing the negotiations on the comprehensive, balanced, and high-level investment agreement as scheduled. The successful result is a great gift from China and the EU to each other and honors the 45th anniversary of the establishment of diplomatic relations between them.

The China-EU investment agreement is China's first bilateral investment treaty that covers market access for investment. It is highly valued for substantially improving market entry, eliminating discriminatory requirements and practices for foreign investors, establishing a balanced investment protection framework, and including provisions on investment and sustainable development.

The conclusion of negotiations on the agreement marks a victory that China and the EU have achieved in upholding multilateralism and free trade, and is set to benefit global economic recovery at a time when COVID-19 is still raging across the world and protectionism is on the rise.

By the end of 2019, China had set up more than 3,200 investment enterprises in the EU, covering all of the bloc's member states and employing more than 260,000 employees in European countries.

The CCCEU looks forward to swift signing and ratification of the agreement, which will bring unified legislation concerning Chinese companies' investment in the 27-member EU, and expects that the treaty will help shape a more stable, transparent, open, and predictable business environment. The CCCEU also hopes that China and the EU can explore the possibility of negotiating a free trade deal to further bolster Sino-EU trade relations in the post-COVID-19 era and shore up global economic recovery.

CCCEU contributed to this story.