(ANSA-AFP) - BERLIN, MAY 5 - German Chancellor Angela Merkel
said Wednesday she remained convinced that the EU-China
investment deal was an "important undertaking" even as strained
relations complicate the agreement's ratification. "Despite all
the difficulties that will surely arise with the ratification,
it is a very important undertaking," Merkel said in a speech to
her conservative CDU/CSU alliance. The massive investment pact
laid the foundations for "mutually beneficial" trade, she said,
citing more reciprocity on market access, compliance with
international labour standards and the brand protection of
regional products as some of the deal's advantages. To the
surprise of many, the European Union and China in late December
approved a major investment pact, wrapping up seven years of
painstaking negotiations thanks to a final push by Germany. The
pact has been defended as a much-needed opening to China's
economy for European companies, but is sure to face a difficult
ratification amongst the 27 member states as well as the
European Parliament. (ANSA-AFP).
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