By Oisin Sweeney • 04 February 2021 • 21:45
The investment agreement is awaiting approval from regulators - Image Source: Pixabay
THE EUROPEAN Union (EU) is close to signing a major investment agreement with China that experts hope will open up valuable business opportunities.
European delegates virtually met with Chinese entrepreneurs and business leaders as both sides come close to implementing a major new trade deal.
The China-EU Comprehensive Agreement on Investment (CAI) has been largely approved by both sides and is now awaiting approval from regulators to reach full implementation. Experts are hopeful that the deal will offer lucrative and diverse opportunities for European businesses to make new investments in China, as the Asian superpower lunges forward to become the world’s largest economy.
Chinese business figures believe that interest from European investors will put competitive pressure on companies in China to boost efforts in research and innovation as well as retaining their talent. China is poised to become a world leader in sustainable energy and technology related to climate change, which is of great interest to European investors.
Italy’s trade commissioner, Gianpaolo Bruno, says that while the massive Chinese manufacturing sector will be of immediate interest to Europe, the new agreement will open up new areas for investment such as banking, high-tech sectors, and telecommunications.
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Oisin is an Irish writer based in Seville, the sunny capital of Andalucia. After starting his working life as a bookseller, he moved into journalism and cut his teeth as a reporter at one of Ireland's biggest news websites. Since joining Euro Weekly News in November, he has enjoyed covering the latest stories from Seville, Spain and further afield - with special interests in crime, cybersecurity, and European politics. Anyone who can pronounce his name first try gets a free cerveza...
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