The meeting of foreign and trade ministers of the EU authorized the European Commission to open negotiations on an investment agreement with China, which will not be dependent on the free trade agreement.
At a meeting on 18 October in Luxembourg of Ministers of Foreign Affairs and Trade of the 28 countries of the European Union, it was decided that the European Commission will represent the EU in the negotiations. After the meeting, the Minister of Foreign Affairs of Lithuania - a country - rotating president of the EU Linas Linkevichus, told the media that negotiations will start in November at a meeting of the EU- China summit.
"The decision of the meeting laid the foundations for the start of negotiations on an investment agreement with China and is a good opportunity to increase mutual investments between the two countries. The challenges for the conclusion of the agreement are many, but if they overcome them, the mutual investments between the countries will increase and the EU companies will enter a larger market in China."
EU data show that the amount of trade with China is huge - the daily flow of goods and trade in services amounted to EUR 1 billion, while the mutual investments are far from their status as one of the biggest economic communities in the world. The Minister of Trade of Sweden Eva Byorling said that the investment agreement will be a major step forward in EU - China trade and will help to reduce the trade disputes between them:
"We should make great efforts to conclude the agreement with China, because the country is very important for the EU and in the future will be even more important. Sweden was strongly opposed to conducting anti-dumping investigations, because we believe in free trade, but such action is not in accordance with the principles of free trade. We do not want a trade war and strive for fair competition."