China, Japan show a united front in & # 039; free and fair & # 039; Commerce
China, Japan show a united front in & # 039; free and fair & # 039; Commerce
China and Japan It showed a united front in "free and fair" trade when the leaders of the two largest Asian economies met on Friday in Beijing.
The visit of Japanese Prime Minister Shinzo Abe, along with hundreds of Japanese businessmen, took place in the context of the trade dispute between China. China and the USA UU which has resulted in both parties imposing billions of dollars in tariffs on each other's exports.
"I think we should take a free and fair trading system to a new level," Abe said after meeting with Chinese President Xi Jinping.
The two parties signed a large number of agreements, including a currency exchange agreement and plans to work together in other markets.
The demonstration of the unit was underlined by the nearly 1,000 commercial representatives who traveled to Beijing from Japan. Chinese Premier Li Keqiang said they had signed 500 agreements worth $ 18 billion.
"This indicates that our cooperation has great potential and a promising outlook," he said. "As countries with great influence in the region and in the world, we must safeguard free trade."
Li said the two sides should work on regional free trade agreements, such as the Regional Comprehensive Economic Partnership, which does not include the US. UU., And in a free trade area between China, South Korea and japanese
"The realization of regional economic integration in the Asia Pacific region benefits the development of global free trade," Li said.
President Donald TrumpThe effort to win more favorable trade agreements for the United States has focused mainly on China, the source of the largest US trade deficit and the target of complaints about Beijing's policies to build leadership in advanced technologies.
Japan, too, is facing pressure on its own trade imbalance with the US, especially in car exports. Abe's government agreed to hold talks with the United States. UU., His powerful ally, on a bilateral trade agreement, but also needs good relations with China, its main trading partner and the regional power.
Also on Friday, the central banks of the two countries signed a three-year bilateral exchange swap agreement that allows the two parties to exchange up to 200 billion yuan (about 28,800 million dollars) for 3.4 trillion yen. These agreements are aimed at facilitating commercial transactions and supporting financial markets.
The two countries agreed to talk about advanced technologies and issues related to patents and other intellectual properties, a perennial problem for China's relations with all foreign investors. The Japanese financial newspaper Nikkei said China hoped to find ways to avoid the shortage of components as a result of the trade dispute with the United States.
A highlight of Abe's meetings were the dozens of preliminary agreements on China-Japan cooperation in other countries, as an "intelligent and sustainable city" in eastern Thailand.
A Japanese government document describing the agreements listed agreements between banks, insurers, energy companies, a cotton producer, contractors, electronics and logistics companies, as well as local governments and commercial promotion organizations.
Abe's three-day visit was the first of a Japanese prime minister since December 2011.
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Mari Yamaguchi in Tokyo and Elaine Kurtenbach in Bangkok contributed.
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