EU with China on verge of reaching big pact between them

The pact, expected to be finalised next week, will give companies inside The EU will improve competitiveness conditions.

Investment agreement talks began in 2014 but have stalled for years on various causes, reports the BBC, translates Periscope.

But increasing tensions between the United States and China may have helped China's position, officials say.

The deal comes after the post-Brex trade deal that made Britain with the EU, which was announced on December 24th.

According to many reports, the deal will open China's production sector for EU companies, as will construction, marketing, air transport and telecom.

One of the key points was China's request for access to the EU energy market, taking into account the sensitivity this issue has to national security. The deal is expected to give Beijing access to a small part of Europe's renewable energy sector on mutual grounds.

The pact has also been arranged in that form to remove investment barriers in China.

Once this agreement is reached, it must be ratified by the European Parliament, a process that may not begin until the second half of 2021. /Periscope