Chamber calls for an end to treaty talks
Print Edition
THE United States and China, the world’s two largest economies, should wrap up their investment treaty talks by the end of the year, an American trade federation said.
“China has become a huge and growing market for US businesses, and Chinese investment in the United States has rapidly accelerated,” Thomas Donohue, president and chief executive of the US Chamber of Commerce, said on Wednesday in opening remarks at the eighth annual China-US CEO and Former Senior Officials’ Dialogue in Washington, DC.
“But there are serious, and in some cases escalating, challenges that are undermining mutual trust and threaten to derail these positive trends” in the China-US relations, he said, adding that the two countries must advance a constructive and achievable agenda.
That includes completing negotiations for a comprehensive bilateral investment treaty by the end of the year, expanding commercial cooperation in key industry sectors and strengthening the global trading system.
The US and China should also work together to “give the global economy an immediate boost” at the G20 meeting in Hangzhou later this year, which is a great opportunity to advance a WTO agreement to end tariffs on environmental goods, he said.
While there are a lot of issues that both countries have to sort out in the talks, Chinese and US officials have repeatedly signaled willingness to finalize a deal before US President Barack Obama leaves the White House in January.
It will also be on the agenda of the China-US Strategic and Economic Dialogue scheduled for next month in Beijing.
A total of 24 rounds of talks on the bilateral investment treaty have been held since 2008 as both countries seek to increase mutual investment, which accounts for only a tiny share of their overseas investment.
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