China and EU ‘should meet halfway’ in landmark investment deal talks
- Chinese commerce ministry says joint effort will be needed and indicated Beijing’s concerns must also be addressed in final talks
- Cautious statement also highlights importance of agreement to global economic recovery
“The China-EU investment agreement is aimed at providing more investment opportunities and sound institutional guarantees for the two sides, but to reach it requires joint efforts and to meet each other halfway,” the ministry said, in an online response to media enquiries on the progress of the deal.
It did not directly respond to the question of whether a deal could be concluded within the year.
“China is committed to promote high-level opening up, and will carry out negotiations, on the premise of upholding our own security and development benefits, based on our own pace, and take efforts with the European side to reach a comprehensive, balanced and high-level investment deal,” it said.
Time is running out for the Comprehensive Agreement on Investment, which has been seven years in the making, with a deal-or-no-deal deadline of the end of the year, amid rising pressure from European politicians over human rights issues.
The ministry statement said the deal would deepen bilateral trade and economic cooperation, but also carry significance to the global economic recovery.