The European Commission will seek the support of EU governments to launch talks with China on an investment pact that could be a precursor to a free-trade deal if Brussels and Beijing can overcome growing tensions.
The pace to negotiate bilateral or plurilateral free trade agreements has been accelerating rapidly over the last month as the big trading blocs seem eager to position themselves in the race for market access and standards. Special report for Intellectual Property Watch.
The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.
Chinese Premier Li Keqiang today offered Indian goods more access to his country's market for narrowing bilateral trade deficit and expressed willingness to start talks for a free trade agreement with India.
Separate multiparty free-trade talks in Asia backed by China and the United States are generally seen as a rivalry between the world's two biggest economies, but some experts say the agreements could prove complementary and ultimately converge.
ASEAN trade officials, along with its six partners, kicked off talks on a regional trade agreement in Bandar Seri Begawan, Brunei Darussalam, on Thursday. The talks began with the establishment of the trade negotiating committee that would discuss various trade and investment issues until next Monday, Trade Ministry director general for international trade cooperation Iman Pambagyo said.
China has raised concerns about European Union plans to negotiate an ambitious free-trade deal with the United States, fearing it is a protectionist move, a senior EU official said on Tuesday.
Even as it seeks free trade deals with the United States and Japan, the EU sees little near-term prospect of a similar accord with China, one of the bloc's most important trading partners, a senior EU official said Tuesday.
The long forgotten traditional links including the historic Stilwell Road connecting the North-east and the neighbouring countries have emerged as critical to connecting South Asia and Southeast Asia.