Chinese and U.S. delegations at the 19th meeting of China-U.S. Joint Commission on Commerce and Trade (JCCT) Tuesday 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, U.S. Secretary of Commerce Carlos Gutierrez and U.S. 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-U.S. 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 create 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 U.S. side has attached great importance to the JCCT mechanism and is willing to promote the U.S.-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 U.S. side favors a long-term and stable development in the economic and trade relations with China to benefit both peoples.
(Xinhua News Agency September 17, 2008)
