Merkel hopes on the signing of the investment agreement between the EU and China in 2016

BEIJING, 29 October. /Corr. Anton Marinin, Oleg Ostroukhov/. German Chancellor Angela Merkel, who arrived today on an official visit to Beijing, said the possible signing of a bilateral investment agreement between the EU and China in 2016.

“We plan to increase mutual investments. In this regard, I hope soon – perhaps in 2016 – the agreement on investments between the EU and China,” said Merkel at a press conference following the meeting with Premier of the state Council Li Keqiang.

She noted that “the signing of this agreement will be a prerequisite to study the issue on creation of free trade area the EU and China”.

In addition, the Chancellor said that Germany supports the inclusion of the Chinese yuan in the basket of reserve currencies by the IMF, as well as China’s desire to become a member of the European Bank for reconstruction and development (EBRD).

Germany is the largest trading partner of China among EU countries, accounting for about 30% of Chinese trade with the EU. In 2014, the volume of Sino-German trade reached $177,8 billion China takes the leading position among foreign investors in Germany: in 2014, the Chinese capital was ranked first by the number of investment projects in Germany, ahead of USA and Switzerland (190 projects against 168 and 130 respectively).

Bilateral investment agreement between China and the EU is still under discussion. China also negotiates a similar agreement with the United States.