BEIJING, Dec. 24 (Xinhua) -- China and the European Union (EU) need to make joint efforts and meet each other half way to conclude a bilateral investment treaty, the Ministry of Commerce (MOC) said Thursday.

Committed to promoting high-level opening up, China will carry out the negotiations with the EU in the premise of upholding its security and development interests as well as at its own pace, and work to reach a comprehensive, balanced and high-level investment treaty, an MOC spokesperson said in an online response to press query about the two sides' progress in negotiation.

The treaty aims to provide more opportunities and sound institutional guarantee for bilateral investments, the spokesperson said.

Reaching the treaty is not only conducive to deepening economic and trade cooperation between China and the EU, the world's two major economies, but also of great significance to global economic recovery, the spokesperson said.