18th China-U.S. Joint Commission on Commerce and Trade opens

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Source: CCTV.com | 12-11-2007 14:20

The 18th China-United States Joint Commission on Commerce and Trade is held in Beijing, capital of China, Dec. 11, 2007. (Xinhua Photo)

The 18th China-U.S. Joint Commission on Commerce and Trade has opened in Beijing.

Chinese Vice Premier Wu Yi, U.S. Secretary of Commerce Carlos Gutierrez and Trade Representative Ambassador Susan Schwab are co-chairing the one-day meeting.

Chinese Vice Premier Wu Yi (C), United States Commerce Secretary Carlos Gutierrez (R) and US Trade Representative Susan Schwab pose for a group photo prior to the meeting in Beijing, capital of China, Dec. 11, 2007. The 18th China-US Joint Commission on Commerce and Trade meeting was held in Beijing on Tuesday. (Xinhua Photo)

Wu Yi said in her opening remarks that bilateral trade ties have witnessed rapid growth in 2007 and a sound relationship is vital for both countries. But trade frictions between the two sides have been increasing and there is a trend in the US of politicizing China-related trade issues. She says that problems can be better settled through negotiation.

The US Commerce Secretary Gutierrez also says dialogue is the best way to resolve bilateral disputes and both sides should work together to avoid protectionism. He says the way for the US to reduce its deficit with China is not to reduce imports, but to increase exports.

The JCCT, launched in 1983, is a platform for China and the US to address issues relating to trade and market access.