China, US reach agreements on boosting trade ties
17/9/2008 17:03
Chinese and US delegations at the 19th meeting of China-US Joint
Commission on Commerce and Trade (JCCT) yesterday reached several agreements on
boosting trade ties at the Richard Nixon Presidential Library near Los
Angeles.
The signing of these agreements, on food security, loan for medical
equipment trade, promotion of digital TV, agricultural cooperation and trade
statistics respectively, marked the 25th anniversary of the establishment of the
JCCT.
At the one-day JCCT meeting co-chaired by Chinese Vice Premier Wang
Qishan, US Secretary of Commerce Carlos Gutierrez and US Trade Representative
Susan Schwab, the two sides also agreed to boost the cooperation between their
working groups in such fields as intellectual property rights and information
industry within the JCCT framework.
The JCCT is a high-level
government-to-government dialogue mechanism for seeking open market
opportunities and resolving trade disputes between the two countries.
Wang,
heading the Chinese delegation, said the JCCT mechanism has served as a
significant platform for Sino-US consultation in such fields as trade and
investment and has played an important role in solving their trade problems and
extending economic and trade cooperation.
Noting the two countries are
mutually complementary in economy and enjoy a solid foundation for cooperation,
Wang said their economic and trade ties are important to each other and even to
the whole world.
The two sides should take full advantage of the JCCT and
resort to communication to boost mutual understanding, extend economic and trade
cooperation as well as creating favorable legal, systematic and mechanism
condition for the development of enterprises and markets of the two countries,
Wang said.
Gutierrez, for his part, said the US side has attached great
importance to the JCCT mechanism and is willing to promote the US-China
dialogue, cooperation and partnership within the JCCT framework for a brilliant
prospect for bilateral economic and trade ties.
Meanwhile, Schwab expressed
Washington's willingness to solve the problems that have emerged in the
development of bilateral economic and trade cooperation within the JCCT
framework.
Noting China now ranks as the 2nd biggest trade partner for the
United States, Schwab said the US side favors a long-term and stable development
in the economic and trade relations with China to benefit both
peoples.
Xinhua
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