High-level U.S.-China economic dialogue makes important progress

Source: Xinhua | 06-19-2008 14:26

WASHINGTON, June 18 (Xinhua) -- The fourth session of the U.S.-China Strategic Economic Dialogue (SED) made important progress on issues that are vital to both countries, the U.S.-China Business Council (USCBC) said Wednesday.

"The SED has become a vital forum to ensure that U.S. interests are addressed in our relationship with China," USCBC President John Frisbie said in a press release obtained by Xinhua.

"For instance, this week's meetings focused on cooperative efforts on energy and environmental issues -- two topics that the U.S. and China have huge stakes in getting right so that future generations can continue to prosper," he said.

The 4th SED was held in Annapolis, Maryland, on Tuesday and Wednesday. In addition to energy and environmental initiatives, the two countries announced the launch of negotiations for a bilateral investment treaty (BIT).

"A high quality bilateral investment treaty with China would help reduce barriers to U.S. companies doing business in China," the USCBC president said.

Frisbie said, "In addition, it would encourage Chinese companies to invest here in the U.S., creating jobs for American workers. We look forward to working with U.S. negotiators on the specifics as the negotiations get under way."

The USCBC is the leading organization of U.S. companies engaged in business with China. It co-hosted a dinner in honor of the Chinese delegation headed by Vice Premier Wang Qishan here Wednesday evening along with the National Committee on U.S.-China Relations and the U.S. Chamber of Commerce.

Editor:Zhang Ning