October 29, 2009
China and USA Grow Closer on Trade and Investment
The 20th US-China Joint Commission on Commerce and Trade concluded a vibrant two-day summit in Hangzhou with significant agreement on several areas of growing trade and investment and some serious-sounding lip service on traditional disagreements such as intellectual property.
In attendance was ethnic Chinese US Commerce Secretary Locke, Trade Rep Ron Kirk, the new US Ambassador to China Jon Huntsman, and many others from the Obama administration and mandarins from a wide range of Beijing's bureaucracies. Advances include:
In attendance was ethnic Chinese US Commerce Secretary Locke, Trade Rep Ron Kirk, the new US Ambassador to China Jon Huntsman, and many others from the Obama administration and mandarins from a wide range of Beijing's bureaucracies. Advances include:
- China will reopen its markets to US pork products;
- China will remove local content requirement for wind turbines;
- China will treat products of foreign invested enterprises as domestic in government procurement and will work in 2010 toward its application to the WTO Government Procurement Agreement;
- China will streamline the approvals and certifications for medical devices and pharmaceutical cooperation;
- China will further open the market for tour packages from China to the USA and the JCCT Tourism Working Group will conduct high-level meeting in January;
- China and USA launched a new "Vice Minister-level" dialogue on innovation and industrial policy.
All of the above is good news and represents a lot of potential positive business opportunities for Americans. As the dragon and Uncle Sam hug tighter will Europe be left out? Time will tell....
Labels: foreign relations, free trade, goverment procurement, jcct, wto
# posted by Sinomania! : 10/29/2009 05:13:00 PM
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