‘Con­fi­dent’ na­tion to act quickly on trade con­sen­sus

China Daily (Hong Kong) - - TOP NEWS - By JING SHUIYU and ZHONG NAN Con­tact the writer at jing­[email protected]­nadaily.com.cn

China will soon im­ple­ment parts of the new con­sen­sus with the United States on agri­cul­tural prod­ucts, en­ergy and au­to­mo­biles, the Min­istry of Com­merce said on Thurs­day.

Within 90 days, China and the US are ex­pected to ad­vance ne­go­ti­a­tions in an equal and mu­tu­ally ben­e­fi­cial man­ner, with the aim of can­cel­ing all ad­di­tional tar­iffs im­posed in re­cent months, min­istry spokesman Gao Feng said.

Gao re­it­er­ated that the lat­est meet­ing be­tween the two pres­i­dents on eco­nomic and trade is­sues was suc­cess­ful.

“Teams from both coun­tries are cur­rently com­mu­ni­cat­ing smoothly, and we are con­fi­dent that the two par­ties will reach an agree­ment within 90 days,” he said.

China and the US share com­mon in­ter­ests in such fields as in­tel­lec­tual prop­erty rights, pro­mot­ing fair com­pe­ti­tion and re­lax­ing mar­ket ac­cess, Gao said, adding that these are in line with China’s deep­en­ing of re­form and open­ing-up.

Ex­perts said dis­par­i­ties be­tween China and the US are in­evitable, but that does not change the over­all pic­ture of eco­nomic com­pat­i­bil­ity.

The na­tions are highly com­ple­men­tary in trade struc­ture, and healthy bi­lat­eral busi­ness ties are in the fun- da­men­tal in­ter­est of both coun­tries and the world, said Xue Rongjiu, deputy di­rec­tor of the Bei­jing-based China So­ci­ety for WTO Stud­ies.

Long Guo­qiang, vice-pres­i­dent of the State Coun­cil’s Devel­op­ment Re­search Cen­ter, said the Sino-US eco­nomic and trade re­la­tion­ship has en­coun­tered head­winds in the past few decades, but their com­pre­hen­sive and mu­tu­ally ben­e­fi­cial ties re­mained un­changed.

Yao Xue, gen­eral man­ager in China for Hurco Com­pa­nies Inc, a US-based in­dus­trial tech­nol­ogy con­cern, said he has a firm belief that the two gov­ern­ments can find proper so­lu­tions and help deepen col­lab­o­ra­tion be­tween com­pa­nies.

Thomas Pel­lette, a group pres­i­dent of US con­struc­tion ma­chin­ery gi­ant Cater­pil­lar Inc, said he hopes China and the US will ad­dress trade is­sues as soon as pos­si­ble. The com­pany does not plan to change its long-term strat­egy in China, he said.

Sang Baichuan, a pro­fes­sor at the Univer­sity of In­ter­na­tional Busi­ness and Eco­nomics in Bei­jing, said China has been ea­ger to en­hance IP pro­tec­tion and of­fer more mar­ket ac­cess to global busi­nesses.

“The gov­ern­ment will con­tinue to cre­ate more space for com­pa­nies from both coun­tries to deepen co­op­er­a­tion, es­pe­cially in the high-tech and clean en­ergy sec­tors,” Sang said.

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