CCPIT invites US manufacturers to fully participate in China's economic development

The China Council for the Promotion of International Trade (CCPIT) invites US manufacturers to participate more fully in China's economic development, according to the Joint Statement on China-US trade issued Tuesday in Beijing.

The Joint Statement is signed by the CCPIT and the United States National Association of Manufacturers (NAM).

For NAM, this is its first official sponsored trade mission to China. Invited by the CCPIT, the delegation, led by its president Jerry Jasinowski, will spend seven days in China.

In the statement, both sides agree to work together to strengthen trade relations, as China-US trade is still far below its potential given the size of the two economies and the capabilities of businesses in both countries.

Both sides will exchange information on trade and business policies and work to educate businesses on market opportunities, the statement says.

Yu Ping, vice chairman of the CCPIT, said special attention will be giving to promoting business contacts among successful small and medium-size companies and helping them benefit from trade opportunities.

The statement calls China and the US "unique trading partners."The US has the largest, most advanced industrial base in the world, while China is the fastest-growing large economy with industry expanding rapidly to meet the demands of development and the rising incomes of Chinese consumers. Both countries have much to gain from expanding trade on the bases of mutual benefit, the statement says.

Since China-US diplomatic relations were established in 1979, bilateral trade volume has increased from less than 2.5 billion US dollars to 126.33 billion US dollars in 2003.