(Yicai Global) Nov. 24 – China expects to pen an agreement with the European Union to ease companies' market access this year after more than six years of negotiations, according to a former vice minister of finance.

The entire world is calling for this kind of multilateralism, Zhu Guangyao said on a forum yesterday. Signing the EU-China Comprehensive Agreement on Investment could bring more investment opportunities and improve mutual understanding between the two regions, Zhu added.

China has been widening its influence via trade agreements this year. It inked the Regional Comprehensive Economic Partnership agreement with 15 countries, including Australia, Japan, and members of the Association of Southeast Asian Nations, on Nov. 15 to form the world's largest trade bloc.

Others have hinted about new developments. Gao Feng, spokesperson of China's commerce ministry, said on Nov. 19 that China and the EU were holding their 34th round of talks a week before that, marking the ninth round of this year, as negotiations advance.

Talks with the EU have made significant progress and the pair should make sure to finish them this year to provide grounds for stable business development in both regions, Zhang Ming, head of China’s mission to the EU, said during a speech on Sept. 9.

Editor: Emmi Laine