The China-EU Leaders'Meeting was held in Brussels, Belgium, on Tuesday. The two sides issued a joint statement saying that they agreed not to transfer technology compulsorily and promised to make the decisive progress necessary to conclude the negotiations in 2019, especially in terms of investment liberalization commitments, in order to reach a high-level China-EU investment agreement by 2020.
The two sides reiterated their joint commitment to the reform and cooperation of the World Trade Organization (WTO) in order to ensure its relevance and meet the global trade challenges. They will intensify discussions aimed at strengthening international rules on industrial subsidies and continue to exchange views on other issues, Xinhua said in a statement released late yesterday.
"The high level of the agreement will be reflected in substantial improvements in market access, elimination of discriminatory requirements and practices affecting foreign investors, establishment of a balanced investment protection framework and inclusion of investment and sustainable development provisions." The statement said.
Both sides stressed the importance of abiding by international standards in intellectual property protection and law enforcement. The two sides will continue to strive to achieve substantive results in the areas of malicious registration of intellectual property rights, enforcement of intellectual property rights and business secrets.
At a press conference after the three-hour summit in Brussels, Premier Li Keqiang of the State Council of China said that European enterprises would enjoy equal treatment. He also proposed the establishment of a dispute mechanism to deal with corporate complaints. Donald Tusk, President of the Summit and President of the European Council, spoke of this breakthrough.
The statement stated that China and Europe are committed to ensuring equal and mutually beneficial cooperation in bilateral trade and investment. The two sides reiterated their willingness to strengthen bilateral economic cooperation, trade and investment, and to provide each other with broader, more convenient and non-discriminatory market access. To this end, the two sides will intensify their efforts to find mutually agreed solutions for some key barriers identified by the two sides, and take stock at the next meeting of leaders of China and Europe.
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