European Council approves launch of BIT talks with China

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LUXEMBOURG, Oct. 18 -- The European Council on Friday said it had adopted a mandate for the European Commission to negotiate on behalf of the European Union (EU) a bilateral investment treaty (BIT) with China.

The decision was taken at the ongoing meeting of the Foreign Affairs Council (Trade) in Luxembourg, as announced by a written statement of the European Council.

The mandate is composed of a decision of the Council and a decision of the member states authorizing the opening of negotiations, as well as directives for the negotiation of the agreement.

The directives foresee an agreement that would deal both with investment protection and with improved access to the market for investors from the EU and China, said the statement.

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