The European Union (EU) on Monday announced that it has signed a key agreement with China on 5G network, saying both sides are ready to enhance cooperation on research funding and facilitating market access.
"Both parties are committed to reciprocity and openness in terms of access to 5G networks research funding, market access as well as in membership of Chinese and EU 5G associations," EU said in a press release.
Signed at Monday's EU-China high level economic and trade dialogue in Beijing, the agreement was described by the bloc as a "milestone" in the global race to develop 5G networks.
By 2020 there will be more than 30 times as much mobile Internet traffic as there was in 2010, the EU said, adding that in the future everybody and everything will use 5G, the next generation of communication networks.
"With today's signature with China, the EU has now teamed up with the most important Asian partners in a global race to make 5G a reality by 2020. It's a crucial step in making 5G a success," said Gunther Oettinger, European commissioner in charge of digital economy and society.
Under the agreement, the EU and China seek to reach a global understanding, by the end of 2015, on the concept, basic functionalities, key technologies and time plan for 5G.
The EU also vowed to make joint efforts with China to promote global standardization for 5G, implement joint research actions and facilitate bilateral participation of enterprises in 5G research projects.
