EUROPE (TOP) – The European Union (EU) and China concluded on Wednesday (30) the negotiations of an investment agreement. The information was confirmed by the leaders of China and Europe in a video conference to CRI.
After 35 negotiating sessions over the past seven years, the two economic powers closed the deal in late 2020 as planned. "All is well that ends well." Although the process was not an easy one, the conclusion of the agreement was a result of the joint efforts of the two parties.
The content of the agreement has not yet been published. There are several countries concerned about China's level of openness in the sectors of finance, energy, telecommunications and electric vehicles and new energies.
The expansion of the opening between China and Europe will benefit companies in both countries. To enter the European market, Chinese companies will raise the bar in terms of green production, transparency in project bids and meeting the requirements of the European market. At the same time, EU industry standards and regulatory rules, which represent the most advanced level in the world, will promote the transformation and updating of Chinese companies and improve their international competitiveness.
The deal is good news for defenders multilateralism. Rhodium Group expert Noah Barkin commented that the European Union has sent a clear signal that the EU will go its own way on the China issue.
Bruno Pereira *
Correspondent The Oe-Kusi Post in Portugal and Europe.
