China-US SED concludes, energy & environment cooperation framework signed

WATCH VIDEO

Source: CCTV.com | 06-19-2008 09:53

China and the United States have concluded their fourth round of Strategic Economic Dialogue with the signing of a 10-year energy and environment cooperation framework.

Chinese Vice Premier Wang Qishan (L) and United  States Treasury Secretary Henry Paulson walk to  the meeting place for the closing session of the 4th round of China-US Strategic Economic Dialogue in Annapolis, Maryland, June 18, 2008. China and  the US on Wednesday wrapped up their 4th round of strategic economic dialogue in Annapolis.  (Xinhua/Yao Dawei)

The framework sets targets and the steps needed to expand Sino-US cooperation in energy and environment over the next decade.

It's made up of five major goals: producing and transmitting efficient and secure electricity, ensuring clean water, fresh air, efficient transport and conserving ecosystems in forests and wetlands.

Five joint commissions will be set up to draft plans to achieve these goals. China and the US hope to meet the targets before the next round of talks. They are also looking at building an "eco-partnership", to ensure the smooth implementation of targets.

Chinese Vice Premier Wang Qishan told reporters that signing the framework is "a major achievement of the meeting". He believes it will influence future bilateral economic cooperation and contribute to sustainable development worldwide.

His US counterpart, Secretary of Treasury Henry Paulson said, through the framework the two sides will address some of the most daunting challenges.

Also on Wednesday, China and the US agreed to start negotiations on a bilateral investment protection accord.

Wang Qishan said both sides agreed to stick to the principle of free trade. He said the two countries will step up efforts to ensure there's an investment-friendly environment.

The two sides also exchanged views on issues of common concern such as the US sub-prime mortgage loan crisis, global financial turbulence and intellectual property rights.

Editor:Xiong Qu