Reuters quoted a “senior official” in the European Union as saying that the bloc and China may conclude an investment agreement that would give European companies better advantages in the Chinese market.
The official said on Monday that the deal will give European Union companies better access to the Chinese market and protection of their assets there.
The official indicated that the tension in trade relations between the United States and China “may have helped change the Chinese position and enhance the chances of an agreement between Beijing and Brussels.”
He explained that the agreement may be concluded during a videoconference conference next Wednesday, which will be translated into legal texts over a period of a few months.
He added that the European Commission “is close to completing the negotiations, which achieved great success, especially with regard to some difficult issues such as labor rights.”
European Union government ambassadors in Brussels discussed the investment agreement today, Monday, and no country had any major problems with it, and officials said that Poland had proposed that the European Union discuss the agreement with the new administration of US President-elect Joe Biden, but other countries did not share this opinion.
Talks on the deal began in 2014, but have stalled for years with the European Union complaining that China is not implementing promises to lift restrictions on European investment.