(Xinhua 2008-06-19 07:37:57) China and the United States agreed to start negotiations on a bilateral investment protection accord,
senior officials from both countries said Wednesday.
Visiting Chinese Vice Premier Wang Qishan and U.S. Secretary of Treasury Henry Paulson made the
announcement at a joint press conference in the Department of Treasury after the fourth round of Sino-U.S. Strategic Economic Dialogue, or SED.
While announcing the agreement on launching the investment accord talks, Wang said both sides also agreed during the SED to stick to the principal of free trade and investment facilitation and were committed to improve investment-friendly
environment.
The two sides also exchanged views on issues of common interests such as the U.S. sub-prime
mortgage loan
crisis, global financial turbulence and
intellectual property rights, he added.
Paulson said the conclusion of such an accord will "send a strong signal that our two nations welcome investment and will treat each other's investors in a fair and
transparent manner."
"Our two governments will begin these negotiations soon," he added.
Wang and Paulson co-chaired the SED meeting as special representatives of the state leaders of the two countries in Annapolis, Md. between June 17 and 18.
The two sides signed a 10-year energy and
environment cooperation
framework after
wrapping up the two-day talks.
Participants of the meeting include minister-level officials and other
senior officials from the two governments.
The two-day discussions focused on five
specific areas: financial and macro economic management, developing and protecting human capital, the benefits of trade and open markets, enhancing investment, and advancing joint opportunities for cooperation in energy and
environment.
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