| China to deepen economic cooperation with APEC members |
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| 2007-09-08 16:47 |
| From:Department of Information Technology Article type:Original |
From September 5 to 8, Chinese Minister of Commerce Bo Xilai met with economic ministers of Japan, New Zealand, Canada, Australia, Republic of Korea, trade representative of the US, and WTO Director General Pascal Lami in Sydney, Australia. The two sides exchanged views on expediting Doha negotiation, economic cooperation within the Asia-Pacific region, and other related issues.
Expediting Doha negotiations
Minister Bo clarified China’s positive attitudes towards Doha negotiations. After the settlement of disputes over agricultural exports subsidy, the problem of domestic support for agriculture had come to the fore. The developed countries, which used to have the highest level of subsidy, were both obligated and able to act first in reducing domestic support for agriculture. With regard to non-agricultural products quotients, substantial market access should be given to developing countries. The successful conclusion of the Doha Round was beneficial to all member countries, developing as well as developed. It was therefore a common goal of all countries, including China, to expedite its conclusion, Bo said.
Promising future of China-Australia economic relations
While meeting Mr. Truss, Australian Minister of Trade, Bo congratulated him for Australia’s successful hosting of APEC meetings. Bo noted the huge potential of China-Australia cooperation and the complementary nature of the two economies. China was to become Australia’s biggest trade partner, Bo observed, and China-Australia Free Trade Area negotiation was well underway. Mr. Truss confirmed the importance of China to Australian economic development. During President Hu Jintao’s visit to Australia, the two sides had reached a number of significant deals. Truss and BO also talked over issues including iron ore price and wool trade.
During his stay in Australia, Bo also signed the china-Australia MOU on facilitating technical worker employment.
Mutually beneficial China-US economic relations
While talking with US trade representative Susan Schwab, Bo recognized the positive general trend of bilateral trade, but also pointed out the recent rise of trade protectionist tendency in US. The wide publicity of Chinese product quality issue, the anti-dumping and anti-subsidy investigations against Chinese products, all evidenced this negative tendency. The US had a mature market, while China was a developing market with huge potential. The right attitude towards bilateral trade was to exploit the complementary nature of two economies and take a rational approach to problems, Bo said, and trade protectionism was detrimental to both sides.
China-Republic of Korea agreement on bilateral investment protection
On September 7, under the witness of the economic ministers of the two countries, china and the Republic of Korea signed the Agreement on the protection and promotion of bilateral investment. The two sides both expressed their wish to strengthen legal protection for investment, improve investment environment, and encourage further development of bilateral investment.
Vice Minister Yi Xiaozhun attended the signing event.
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