China will accelerate trade negotiations with the EU, Japan and South Korea


China will accelerate trade negotiations with the EU, Japan and South Korea

Chinese President Xi Jinping said China will accelerate trade negotiations with the EU, Japan and South Korea.

President Xi Jinping. Source: Internet

In an online speech on Wednesday (November 4), Chinese President Xi Jinping delivered a speech on China’s plan to play a larger role in holiday global trade. Opening China International Import Expo 2020.

The China International Import Expo is organized in an effort to promote the world’s second-largest economy as buyers of goods instead of producers and sellers of goods globally.

“We will work hard to sign the Regional Comprehensive Economic Partnership (RCEP) early and accelerate negotiations on the China-EU investment treaty and the China-Japan free trade agreement. – South Korea, “said Mr Xi.

RCEP is considered the largest trade agreement in the world if 15 Asia-Pacific countries sign the agreement by the end of this year as expected.

The EU and China are working on an investment deal, but slow negotiations so far have overshadowed the prospect of an agreement later this year. Negotiations between Beijing and its US allies Japan and South Korea have also been mentioned.

Mr. Xi presented a list of ways that China will further open markets to foreign businesses and improve the local operating environment. Initiatives, most previously announced, include improving protection of intellectual property rights to reducing restrictions on technology imports.

“Our aim is to turn the Chinese market into a market for the world, one that is shared by all and a market accessible to all,” said Xi. to speak.

Mr. Xi added that China will play an active role in reforming the World Trade Organization and cooperating with the United Nations, the G20 and other international organizations. He also called on countries and companies to cooperate in the context of the Covid-19 pandemic.

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