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Boosting Trade With China

East China's Shandong province import trade has grown sharply. (File)

A key component of the United States policy towards the Asia-Pacific includes boosting trade and investment in the region.

A key component of the United States rebalance to the Asia-Pacific includes boosting trade and investment in the region. Demonstrating this commitment to supporting U.S. business in the region, U.S. Under Secretary of Commerce for International Trade Francisco Sánchez signed an agreement September 16 intended to boost trade between the United States and China.

Boosting Trade With China
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The memorandum of intent with the American Chamber of Commerce, or AmCham, Shanghai will expand collaboration between the U.S. government and the group, according to the U.S. International Trade Administration, or ITA.

“AmCham Shanghai offers a unique perspective on Chinese leadership and China’s economic goals,” Under Secretary Sánchez said. “We welcome and encourage their increased collaboration as we seek to continue our trend of strengthening our mutually beneficial trade relationship.”

AmCham Shanghai, known as the “Voice of American Business” in China, is one of the world’s largest American chambers of commerce and routinely works with ITA, which is part of the U.S. Commerce Department. The nonprofit, nonpartisan business organization is committed to the principles of free trade, open markets, private enterprise and strengthening U.S.-China commercial ties.

By signing the agreement, both participants acknowledged the desire to work together to enhance the competitiveness of and opportunities for U.S. businesses in Shanghai and more broadly within China and elsewhere in Asia.

ITA says the agreement will facilitate cooperation between the U.S. government and the AmCham and foster greater mutual awareness of each other’s programs and activities.

Under Secretary Sánchez and AmCham Shanghai officials also discussed the efforts of AmCham Shanghai’s new SME Center to increase exports to China by U.S. small and medium-sized enterprises (SME).

The SME Center provides resources such as market analysis, information on business issues, and investor match-making services, to support the success of small and medium-sized U.S. businesses in China.

“I am pleased to work with the AmCham Shanghai” said Under Secretary Sánchez, “to increase U.S. exports to China and to work together to identify further opportunities … in China.” The U.S. government remains committed to building an increasingly active and enduring presence in the region by supporting these types of business initiatives.