China and the US have nearly completed negotiations on the text of the bilateral agreement on investment BIT (Bilateral Investment Treaty) and the beginning of the year negative exchange sheets, said Saturday the Minister of Commerce Gao, informs «Pacific Russia».

Bilateral investment treaty (Bilateral Treaty Treaty BIT) — an agreement which is intended to establish the rules of mutual investment in each country. This agreement can provide US companies better access to the Chinese market and equal rights with Chinese companies.

«According to the consensus of the parties … have nearly completed negotiations on the text of the agreement BIT. Then, in a short time, this year, according to the consensus, the two sides will exchange negative sheets» — said Gao at a press conference during the annual session of the National People’s Congress, the supreme legislative body of China.

Negative plates, when it comes to international agreements, called the list of goods, persons or liabilities for which the agreement does not apply. Chinese minister has called the exchange of negative plates «challenge for both countries,» stressing the difference economies of the US and China.

Gao also said that the agreement would have a «profound impact» on global investment rules.