Fact Sheet: Joint Commission on Commerce and Trade (JCCT) Signings
U.S.-China Memorandum of
Understanding on Soybeans:
The U.S. Department of Agriculture (USDA) and China's General Administration of Quality Supervision, Inspection, and Quarantine (AQSIQ) signed a memorandum of understanding (MOU) agreeing to cooperate on issues relating to the inspection and quarantine of U.S. soybeans exported to China. The MOU states that appropriate U.S. government agencies are ensuring U.S. soybeans meet relevant quality, food safety, and plant health standards. The MOU will also establish information sharing mechanisms that enhance cooperation related to soybean trade. The United States exported more than $9.3 billion in soybeans to China in fiscal year 2010.
Agreement Between the
U.S. Department of Agriculture (USDA) and China's Ministry of Agriculture (MOA)
on Areas of Cooperation in Agriculture for 2011:
The United States and China are the world's largest agricultural producers in value and volume, respectively. USDA and MOA also have a 31-year history of technical cooperation in the field of agriculture. During the Agricultural Working Group (AWG) meeting in advance of the 2010 Joint Commission on Commerce and Trade (JCCT) Plenary, both sides agreed in principle on areas of cooperation for 2011. These areas will include, but are not limited to: biofuels, biotechnology, treatment of agricultural wastes, plant and animal health protection, and sustainable agriculture. Additionally, both sides agreed to hold information exchanges on the development of markets for agricultural products and commodities, and weather forecasting tools. Both sides agreed that the 2011 meeting of the USDA-MOA Joint Committee on Cooperation in Agriculture will finalize and implement the abovementioned areas of cooperation.
Work Plan on Cooperative Research on Trade
The United States and China each publish data that measure the bilateral merchandise trade flows between these two trading partners. Although both countries follow international statistical standards, differences in the merchandise trade data arise as a result of data and methodological differences. The goal of this work plan is to extend the statistics dialogue and research already conducted under auspices of the JCCT. Like the previous work, this effort is not to change the official statistics reported by either country, but to understand better the data and methodologies used in the collection and compilation of those official trade statistics.
Framework Agreement between USTDA and MOFCOM:
The USTDA-MOFCOM Operating Framework Agreement establishes procedures for the review and approval of specific project activities applicable to the USTDA mission. Under this Agreement, USTDA agrees to consider assistance to Chinese organizations for project planning activities that respond to Chinese development priorities that might benefit from U.S. exports. In signing this document, USTDA and MOFCOM mark ten years of USTDA’s China program and renew their Operating Framework Agreement to cover an additional ten years of partnering on projects that are to the mutual benefit to U.S. and China.
State Grid Smart Grid Standards Development
Technical Assistance Grant Agreement:
This $442,380 technical assistance grant will help the China State Grid Electric Power Research Institute develop standards for smart grid infrastructure that are appropriate for China and harmonized with U.S. standards. Developing standards for the smart grid would enable its widespread implementation in China, which would lower electricity costs and usage, providing economic and environmental benefits to communities and households throughout the country.
Integrated Real Time Water Monitoring System
Feasibility Study and Pilot Project Grant Agreement:
USTDA is contributing $589,466 to partially fund a Feasibility Study (FS) for the Changjiang Water Resources Commission (CWRC) of China on an Integrated Real Time Water Monitoring System. The FS and pilot would assess the technical and financial feasibility of installing a water monitoring system in the Han River Basin. Such a system would positively impact the environment of the entire Yangtze River Basin as well as help ensure clean drinking water for large populations in Northern China. CWRC and the Sutron Corporation (Sterling, VA), the sole source contractor, are sharing costs on the FS.
Memorandum of Understanding between the U.S.
& Foreign Commercial Service and the China Council for the Promotion of
International Trade Concerning Promotion of Investment in the United
In this agreement, the U.S. & Foreign Commercial Service and the China Council for the Promotion of International Trade (CCPIT) set forth the activities they intend to conduct in the United Sates and in China to promote outbound investment by Chinese investors to the United States. This will include exchanging information on respective investment promotion activities and services, sharing data on investment flows to the United States, jointly cooperating on outreach activities in each country to promote investment by Chinese enterprises, sharing lists of potential investors, acting as central contacts for present and potential investors, and providing each other information about each country’s policies related to enterprises’ direct investment into the United States.