The upcoming sixth China International Import Expo (CIIE), held in Shanghai from November 5 to 10, is set to play a pivotal role in enhancing China-U.S. trade relations. As one of the world's largest economies, both nations are leveraging the expo to foster deeper commercial ties and explore new opportunities.
Eric Zheng, President of the American Chamber of Commerce in Shanghai, highlighted the significance of the CIIE in a recent discussion. \"The U.S. and China have always enjoyed a substantial trading relationship,\" Zheng stated. He pointed out that last year, the bilateral trade volume exceeded $700 billion, with U.S. exports to China reaching over $150 billion.
Despite recent political challenges, Zheng emphasized the enduring importance of cooperation over competition. \"In addition to competition, cooperation remains very, very important for the bilateral relationship,\" he noted. Agriculture, in particular, presents a win-win scenario. China is a net importer of agricultural products, and the U.S. excels in this sector, making it an ideal area for collaboration.
Zheng mentioned recent agreements to import U.S. agricultural products, signaling a positive trend towards increased cooperation. \"CIIE is a very great platform and it's great that we expect to see some senior visitors from the U.S.,\" he said. This participation underscores the commitment of both nations to work more closely together.
Reflecting on the long-standing commercial relationship, Zheng added, \"We're talking about two largest economies in the world that have enjoyed a substantial commercial relationship over the past decades, particularly since China opened to the outside world and joined the WTO.\" He advocated for win-win solutions, rejecting the notion of decoupling, which he believes is not in the interest of either country.
With U.S. companies thriving in China for decades, the CIIE stands as a testament to the mutual growth and benefits derived from this partnership. As the expo approaches, stakeholders from both nations look forward to furthering their economic ties and achieving shared prosperity.
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CIIE is a great platform for developing China-U.S. trade relationship
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