China-EU deal ‘vital for competitiveness’

China-EU deal ‘vital for competitiveness’

The China-EU Comprehensive Agreement on Investment (CAI), awaiting approval in writing, will be important for the global competitiveness and growth of EU industry and EU entrepreneurship in general, a Greek expert told Xinhua in a recent interview on the future prospects of bilateral cooperation.

On December 30, China and the European Union announced the completion of the investment agreement negotiations as scheduled.

The agreement will be one of the most ambitious deals China has ever concluded with a third party, said Dimitris Filippidis, head of Unit-Innovation Programs Management at PRAXI Network, which provides a bridge between research and industry in Greece.

PRAXI has been promoting cooperation with China over the past years. “This agreement will ensure that EU investors achieve better access to the fast-growing consumer market in China and they will be able to compete on a better level playing field in China,” Filippidis said.

“This of course is greatly important, vastly important for the global competitiveness and future of growth of EU industry and EU entrepreneurship in general.” (Xinhua)

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