U.S. Chamber Cites Limited Progress at U.S.-China JCCT Meeting

More Tangible Outcomes Needed from the Chinese in Future Dialogues

WASHINGTON, D.C.—The U.S. Chamber of Commerce's Vice President for Asia Myron Brilliant issued the following statement today, welcoming China's commitments at the U.S.-China Joint Commission on Commerce and Trade (JCCT) meeting:

"China's pledge prior to the meeting to reduce market capitalization requirements for foreign telecommunications service providers was long overdue and is a necessary step toward leveling the playing field for foreign companies.

"Other commitments, such as streamlining of the medical device approval process and loosening restrictions on poultry imports, will help create opportunities for America's businesses and workers. At a time of increasing economic fragility at home and abroad, ensuring China opens its markets and plays by international rules is critical.

"The modest gains from these meetings are not home runs, but they are important for expanding commercial opportunities for America's businesses. We will continue to urge both sides to make every effort to reduce unfair barriers to trade and investment.

"The U.S. government should be commended for continuing its efforts to ensure that this bilateral trade relationship is equitable. Today's meetings demonstrate that the JCCT process continues to be constructive and beneficial to American economic interests. The dialogue is a longstanding platform that helps resolve important outstanding bilateral commercial issues. Ensuring that U.S. companies are afforded equality of competitive opportunity in the Chinese market is critical.

"Both sides should seize on these modest outcomes and promote robust trade and investment liberalization as soon as possible, including in the Doha Round. Continued efforts by China to open its markets, enforce intellectual property rights, adopt a more flexible, market-based exchange rate for its currency, and eliminate market-distorting measures are the best antidotes to protectionist concerns that are likely to rise in a new administration and Congress."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

www.uschamber.com

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