China’s FM says ‘confident’ of investment deal with EU

Chinese Foreign Minister Wang Yi gestures during an interview with AFP in Paris on October 21, 2019. (AFP)

China’s foreign minister said on Monday that he was confident of an investment deal being clinched with the European Union, while pressing for talks “as soon as possible” on a free-trade accord.

In an interview with AFP in Paris, Wang Yi said the list of sectors China still refuses access to is shrinking, and the country is opening up more and more, thus “creating favorable conditions for the conclusion of a bilateral investment accord.”

“We are very confident about the conclusion of this agreement,” with Europe, said Wang, adding negotiations were “progressing well.”

“During this year’s (EU-China) summit, leaders on both sides agreed that the negotiations will lead to decisive progress by the end of the year, allowing a high-quality agreement to be concluded in 2020,” he said.

Wang underscored China’s willingness to “launch discussions on a free trade agreement between China and the EU,” calling for a feasibility study in the short term and emphasizing that “China and the European Union are one another’s biggest economic and commercial partners.”

China is engaged in a long-running tariff war with US President Donald Trump, which has started to take a toll on its economic growth.

Wang said “a big number” of contracts, “between 30 and 40,” would be signed between China and France when President Emmanuel Macron visits from November 4 to 6.

The two countries, permanent members of the UN Security Council, “must work together to convey a joint message of support for multilateralism and a message of support for the authority of the UN in the face of rising unilateralism,” Wang added.

“We must also send a message that our two countries respect the fundamental rules governing international relations and together defend justice and equity in the world.”

Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53