Beijing, Dec 31–The investment treaty between China and the European Union (EU) is a balanced, high-standard and mutually beneficial agreement that matches high-level international economic and trade rules and focuses on institutional opening-up, said an official with China’s Ministry of Commerce (MOC).
The agreement is balanced as China and the EU have both paid particular attention to retaining necessary regulatory powers when making opening-up commitments, the official said at a press conference Wednesday.
Meanwhile, both sides emphasized boosting bilateral investment cooperation and ensuring that investment must be conducive to sustainable development, she said.
Under this high-standard agreement, both sides are committed to promoting investment liberalization and facilitation.
The treaty covers far more areas than traditional bilateral investment agreements, with the negotiation outcomes involving market access commitments, rules on fair competition, sustainable development and dispute settlement, the official said.
The two sides have offered high-standard, mutually beneficial market access commitments, which will foster a level playing field for enterprises and benefit enterprises from both sides and the whole world, she said.