Beijing, October 2023 — In a move to stabilize and enhance bilateral relations, China and the United States underscored the vital role of economic and trade cooperation during the first vice-ministerial meeting of the China-U.S. Commerce and Trade Working Group.
Chinese Vice Commerce Minister Wang Shouwen co-chaired the meeting with U.S. Deputy Secretary of Commerce Marisa Lago. Wang emphasized that economic and trade ties should serve as a stabilizing force in China-U.S. relations. He stated that China is willing to strengthen communication, expand cooperation, and manage differences through the working group, fostering a favorable environment for trade and investment between enterprises of both countries.
During his visit to the U.S. from October 2 to 5 at the invitation of the U.S. side, Wang expressed concerns over several issues impacting Sino-American trade. These included the U.S. Section 301 tariff measures on Chinese goods, sanctions on Chinese enterprises, restrictions on two-way investment, revisions to trade remedy investigation rules, and what Beijing views as unfair treatment of Chinese companies.
Both sides agreed to maintain close communication with enterprises from both countries and to address issues of mutual concern. They committed to jointly support trade promotion events such as the China International Import Expo, the China International Fair for Investment and Trade, and the China-California Business Forum.
Furthermore, China and the U.S. voiced support for cooperative initiatives in areas including clean energy technology and women’s health. The two nations also agreed to promote trade facilitation and strengthen communication regarding export controls.
Marisa Lago is set to lead a delegation to visit China in the second half of 2024 upon invitation, where she will co-chair the second vice-ministerial meeting of the China-U.S. Commerce and Trade Working Group.
The continued dialogue signifies a mutual recognition of the importance of collaboration in fostering economic growth and managing global challenges.
Reference(s):
cgtn.com
