By Chris King •
Published: 05 Feb 2021 • 2:08
EU And China Look Forward To Impact Of New Investment Agreement.
EU And China Look Forward To Impact Of New Investment Agreement as it nears completion
The European Union and China are close to completing their historic investment agreement after an online video meeting took place between European trade representatives and Chinese business experts and entrepreneurs.
The initiative is called The China-EU comprehensive agreement on investment (CAI), and it is now awaiting the final regulatory approval before it can come into force, but figures from both sides have already been keen to identify promising fields that can be explored for future trading.
Patricia Conceicao, the Portuguese investment councillor told CGTN Europe, “China made very important commitments regarding sustainable development and labor law, and we will see a lot of investment related to climate change, and energy transition”.
Also, Gianpaolo Bruno, the Italian trade commissioner spoke of the CAI opening up the possibilities of new investments in Chinese telecoms and banking services.
The director general of the China Center for Regional Economic Cooperation, Zhang Jianping, commented, “With market access relaxed, I think it brings a certain competitive pressure to Chinese companies. This will force them to invest in research and development, and find ways to retain talent”.
He added, “I think it’s a good thing to have pressures to survive when it comes to market competition”.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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