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Manufacturers, Exporters, Wholesalers - Global trade starts here.

China, US Sign Trade Documents

Eight documents designed to boost economic and trade relations between China and the United States were signed Wednesday during the 15th session of the China-US Joint Commission on Commerce and Trade (JCCT). Chinese Vice Premier Wu Yi, US Secretary of Commerce Donald Evans and Trade Representative Robert Zoellick jointly chaired the session. US Secretary of Agriculture Ann Veneman also took part in the talks.

The Chinese and US officials also agreed to set up six working groups within the framework of the JCCT, a mechanism established in 1983, to deal with issues such as China's market economy status, trade issue remedies and protection of intellectual property rights.

"The meeting proved to be a complete success," Wu said at a joint press conference held after the talks.

She said China's relationship with the United States is an important one, and economic and trade ties are a vital part of the relationship. China and the United States have become major trading partners, and as economic complements their prospects for cooperation are broad.

Economic and trade cooperation between China and the United States is a win-win relationship, Wu said, adding that China is prepared to work with the US to advance cooperation in various fields through better communication and mutual understanding.

Wu said it is not unusual that some trade disputes or friction have appeared during the rapid development of the two countries' relations. What is important, she stressed, is that both sides handle these issues from a long-term strategic perspective with mutual understanding and willingness to compromise. They should avoid the politicization of pure economic and trade issues.

Wu recalled that Premier Wen Jiabao proposed five principles for guiding Sino-US economic and trade cooperation during his official visit to the United States in December last year.

The core elements of these principles, she said, are development, equality and mutual benefit. China believes that the JCCT can serve as a very good platform for advancing economic and trade cooperation.

"This is a landmark day and a very fruitful day in terms of the developing relationship between the United States and China," Evans said.

The US officials said the United States will continue working to expand and reinforce its comprehensive economic and trade relations with China, while the JCCT meeting has shown that China is also committed to strengthening these ties with the United States.

With rapid and steady economic growth, China has become one of the engines to sustain global economic growth and established a more solid basis for US-China economic and trade cooperation, they said.

(Xinhua News Agency April 22, 2004)

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