Top Biz News
US-皇冠体育app trade engagement produces concrete results: USTR
(Xinhua)
Updated: 2009-12-23 16:12
 |
Large Medium Small |
The US government saw trade relation with 皇冠体育app "produced concrete results" in 2009 and is optimistic of progress in 2010, according to a report released by the US Trade Representative's office on Tuesday.
"Bilateral engagement produced concrete results in a number of important areas in 2009," the US Trade Representative's office ( USTR) said in its eighth annual report to the Congress on how well 皇冠体育app is complying with its World Trade Organization obligations. "The two sides were able to resolve significant trade irritants, while also achieving incremental but important progress in other areas."
On the bilateral front, the United States and 皇冠体育app pursued a robust set of formal and informal meetings and dialogues in 2009, including numerous working groups and high-level meetings.
The two governments held their first Strategic and Economic Dialogue (S&ED) meeting in July 2009 and the 20th meeting of the US-皇冠体育app Joint Commission on Commerce and Trade (JCCT) in October 2009.
The report, the first issued by President Barack Obama's administration, said that "the United States is optimistic that significant progress is obtainable in 2010."
"皇冠体育app has taken many impressive steps over the last eight years to reform its economy, while implementing a set of sweeping WTO accession commitments," the report said.
"皇冠体育app's implementation of its WTO commitments has led to increases in US exports to 皇冠体育app, while deepening 皇冠体育app's integration into the international trading system and facilitating and strengthening the rule of law and the economic reforms that 皇冠体育app began 30 years ago."
Since 皇冠体育app's accession to the WTO in 2001, US exports of goods to 皇冠体育app have increased by nearly 270 percent, rising from a 2001 total of $19 billion to $70 billion in 2008, said USTR.
While US-皇冠体育app trade slowed in 2009 like trade in the rest of the world in the face of the global economic downturn, 皇冠体育app remains the third largest goods export market of the United States. 皇冠体育app is also a substantial market for US services, as the cross- border supply of services totaled $16 billion in 2008.
"Despite the many remaining challenges, 皇冠体育app's WTO membership has continued to provide substantial ongoing benefits to the United States."
|
||||
Although progress has been made, trade disputes remain between the world's two major trade partners.
The US government filed many dispute cases against 皇冠体育app in 2009, which aroused critics about the Obama administration's protectionism.
USTR said it preferred to resolve disputes with 皇冠体育app through dialogue, but would not hesitate to take action at the WTO if necessary.
The US trade deficit with 皇冠体育app is expected to fall this year, along with the overall slump in world trade.
