(MENAFN)German Chancellor Angela Merkel stated on Wednesday, May 5, that the EU-China asset agreement was an "important undertaking" in spite of "all the difficulties that will surely arise in the ratification process."
Merkel at a digital conference of the Union Party parliamentary group stated "It is a very important undertaking because it gives us more reciprocity in market access, because we have decided to comply with the labor standards of the International Labor Organization and other things with which trade can be developed to the benefit of both parties".
China and the European Union have in late December hit a main investment accord, wrapping up seven years of discussions. Germany made a last move from the EU side as Berlin held the government of the Council of the EU in the second half of last year.
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