China and the EU have agreed to negotiate a bilateral investment treaty to boost access to each other’s markets in a sign their relationship remains steady despite recent tensions.
Under the deal – announced by Li Keqiang, China’s premier; Herman Van Rompuy, European Council president; and José Manuel Barroso, European Commission president at the end of an annual bilateral summit in Beijing yesterday – leaders pledged to increase bilateral trade from about $580bn in 2012 to $1tn by 2020.
They also “agreed to keep our markets open to each other and oppose protectionism”, said Mr Li.
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