WASHINGTON - June 24, 2015 - US-China Business Council (USCBC) President John Frisbie issued the following statement on the seventh meeting of US-China Strategic and Economic Dialogue (S&ED):
“I am pleased that two US-China Business Council priorities were a prominent part of the S&ED discussions – the US-China Bilateral Investment Treaty, and the commercial impact from cybersecurity tensions.
“Both governments should double their efforts to advance the negotiations on a Bilateral Investment Treaty (BIT) as much as possible before President Xi’s state visit in September. A high-standard BIT, with strong provisions for market openings and equal treatment, would greatly benefit the commercial relationship.
“Cyber issues also need attention at the highest levels in the coming months, including in areas such as industrial safety and cybercrime, where the US and China should have common interests. American technology companies are also seeing market access barriers in China, as rules are proposed to keep foreign technology out of not just government sales opportunities but also commercial bids in banking and other sectors. Technology decisions by any government should be based on legitimate national security needs and not used as a tool of protectionism.”
The US-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of roughly 210 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.