“CCOIC and USCBC applaud the BIT-related outcomes at the last two US-China Strategic & Economic Dialogues, laying the basis for the negotiation sand a timeline to complete the treaty”
WASHINGTON, DC, November 3, 2014 - The China Chamber of International Commerce (CCOIC) and the United States-China Business Council (USCBC) issued the following statement today:
“The China Chamber of International Commerce (CCOIC) and the United States-China Business Council (USCBC) lend our full support to the completion of a high-standard US-China Bilateral Investment Treaty (BIT) at the earliest possible time. CCOIC and USCBC applaud the BIT-related outcomes at the last two US-China Strategic & Economic Dialogues, laying the basis for the negotiations and a timeline to complete the treaty.
“Both of our organizations have actively supported the work of our two governments on BIT negotiations. CCOIC hosted a fruitful dialogue between Chinese companies and US BIT negotiation team in Beijing last month. USCBC has an active working group of American companies that engages with both US and Chinese BIT negotiators to discuss their priorities. In all of these discussion, companies from both countries have expressed their concerns and expectations of expanding market access and removing investment barriers, and appreciate efforts by both governments to address these issues via a BIT.
“There continues to be huge potential for US-China bilateral investment, which promises to be a defining feature of the commercial relationship in the future. Foreign investment has benefitted both countries by creating economic growth, employment, and new product and service choices for consumers. The BIT would provide a better framework to guide the development of a healthy, mutually-beneficial investment relationship. For that reason, we urge both governments to prioritize BIT negotiations and make the completion of a high-standard agreement a top priority.
“CCOIC and USCBC pledge to use our close partnership to support the successful completion of a high-standard BIT, promote the bilateral investment cooperation, and add new momentum to the business relationship between the two largest economies in the world.”
The US-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of more than 200 American companies that do business with China. For over four decades, USCBC has provided unmatched information, advisory, advocacy, and program services to its membership. Through its offices in Washington, DC; Beijing; and Shanghai, USCBC is uniquely positioned to serve its members' interests in the United States and China.
China Chamber of International Commerce (CCOIC) is a nationwide business organization in China, representing the most dynamic and internationalized Chinese companies of all sizes, sectors, and regions, as well as national and local non-governmental organizations. It favors constructive engagement with foreign countries to eliminate trade and investment barriers and develop a rules-based commercial environment; improvement of business self-regulation in China and representation of China in the setting of international business rules and standards; advocacy for members whenever the Chinese or foreign government makes decisions that crucially affect corporate interests; spreading of business expertise to the development of Chinese economy, international business cooperation and the growth and prosperity of less developed countries.