USCBC Board: Statement of Priorities Looks to Expand US-China Commercial Relationship in 2015
WASHINGTON – January 22, 2015 – The US-China Business Council (USCBC) today released a statement of priority actions needed to continue building a strong, mutually beneficial commercial relationship between the United States and China. The relationship has made many positive strides over the past three decades, thanks to the collaborative work of the governments, business communities, and other stakeholders in both countries. Trade and investment are delivering important benefits to both economies and are the foundation of the overall US-China relationship.
“This is the fourth priorities statement issued by USCBC’s board of directors,” USCBC Chair and DuPont Chair of the Board and Chief Executive Officer Ellen Kullman said. “The USCBC board is pleased that progress has been made on a number of the previous statements’ recommendations, such as increasing Chinese investment in the United States and reciprocal long-term visas for business travelers. Additional work needs to be done on other issues that require the attention of both governments to fully develop commercial ties and bring greater benefit to each country’s economy, companies, employees, and citizens.“
USCBC’s board of directors has issued a Statement of Priorities in the US-China Commercial Relationship for the last four years. The goal of the document is to focus the efforts of both governments on the top priorities for American companies that conduct business with China. Last year’s statement received high-level attention from senior leaders in both the US and Chinese governments, which acted on many of USCBC priorities.
“The USCBC board’s unique voice includes senior business leaders from some of America’s best companies,” USCBC President John Frisbie said. “The board is well-versed in both the tremendous opportunities and the persistent challenges in the US-China commercial relationship.”
“Progress in the US-China commercial relationship continues to be incremental,” said Frisbie. “American companies welcome China’s ambitious reform direction, but have yet to see tangible impact on many areas of concern. We encourage both governments to develop a broader, long-term strategic vision of the bilateral economic and commercial relationship. Both governments should pursue an economic liberalization framework by finalizing a high-standard US-China Bilateral Investment Treaty (BIT) that would comprehensively address opportunities and challenges in the relationship, rather than approach them incrementally.”
The 2015 statement contains 20 specific recommendations that fall under four general categories:
1. Further solidify the foundation for mutually beneficial commercial relations
2. Reduce trade barriers and enforce globally accepted trade rules
3. Ensure competitive neutrality and improve transparency
4. Strengthen intellectual property rights (IPR) protection and adhere to mutually beneficial innovation policies
“The US-China Business Council estimates that China is at least a $350 billion market for American companies and American workers – but it should be more. Reducing trade and investment barriers and taking concrete actions to develop a level playing field for all companies in China would allow the commercial relationship to reach its full potential and bring greater benefits to each country’s economy,” Frisbie concluded.
For the complete 2015 USCBC Board Statement of Priorities in English and Chinese, visit: https://www.uschina.org/advocacy/priorities-january-2015.
The US-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of roughly 220 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.
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