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US, China urged to finalise investment treaty in 2014

Published on Feb 11, 2014 6:07 AM

WASHINGTON (REUTERS) - The United States (US) and China should aim to complete a planned investment treaty this year, the US-China Business Council (USCBC) said on Monday.

The world's two biggest economies agreed in July to restart stalled negotiations on an investment treaty, with Beijing dropping previous efforts to protect certain sectors of its economy from the start.

"It's very important for us to grasp this opportunity to try to move forward and see how serious they are," USCBC President John Frisbie said in unveiling the council's annual priorities statement.

Previously, Beijing had agreed to talks only if certain Chinese industries, especially in its service sector, were exempt. But it agreed to drop blanket restrictions for the current talks.

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