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The China Council for the Promotion of International Trade (CCPIT) and National Association of Manufacturers (NAM) of the United States issued a joint statement on Tuesday, agreeing to work more closely together to develop bilateral trade.
NAM President Jerry Jasinowski is leading the association's first trade mission to China, from September 10 through 18, as part of a new effort to increase exports of US-manufactured goods to the growing China market. The trade mission, which includes representatives of 11 companies, is visiting Beijing and Shanghai to meet with business prospects and government officials and engage in a variety of business development and networking activities.
In the joint statement, CCPIT and NAM agreed to work together to strengthen trade relations. Sino-US trade is still far below its potential given the sizes of the two economies and the capabilities of businesses in both countries.
The parties will also exchange information on trade and business policies and work to educate businesses on market opportunities.
Yu Ping, vice chairman of the CCPIT, said that special attention will be given to promoting business contacts among successful small and medium-sized companies in both countries and assisting them in benefiting from trade opportunities.
The joint statement refers to China and the US as "unique trading partners." The US has the largest, most advanced industrial base in the world, while China is the fastest-growing large economy with industry expanding and consumer incomes rising rapidly. Both countries have much to gain from strengthening trade, the statement says.
Also in Beijing, US Department of Commerce Undersecretary Grant Aldonas announced several new trade initiatives with China, such as the opening of a China Business Information Center in Washington. The NAM will provide information on these new programs to member companies and affiliated organizations and help them access the services.
"Not enough NAM members are taking advantage of the Department of Commerce's matchmaker programs with Chinese distributors and end-users," said Jasinowski. "Getting the word out to smaller manufacturers on the excellent services provided by the Department of Commerce is one of our trade promotion goals for the year ahead."
The National Association of Manufacturers is the United States' largest industry trade association, representing small and large manufacturers in every industrial sector and in all 50 states.
The companies on the mission include Ingersoll-Rand, Dow Chemical and Revere Copper Products.
Since Sino-US diplomatic relations were established in 1979, bilateral trade has soared from less than US$2.5 billion to US$126.3 billion in 2003.
(Xinhua News Agency, China.org.cn September 15, 2004)
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