The EU will work with China on the development and promotion of 5G wireless networks. Under the agreement, both sides agreed to mutually share their funding acquired for research, their access to the market and membership in 5G associations. The European Union and China also intend to share their research and work results on standardization of 5G connections.
In addition, both parties intend to work together to achieve a global agreement on key technologies, functionality and timing of implementation of 5G until the end of 2015. Such cooperation also aims to encourage entrepreneurs from Europe and Asia to work towards intensive development of 5G technologies.
The work on 5G standardization is expected to begin in 2016 and in 2020 the fifth-generation technology is exptected to become a reality.