31 March 2000
Excerpt: Daley Announces New Commercial Strategy for China
(Strategy to aid U.S. firms as China's markets open up) (805) U.S. Secretary of Commerce William Daley has announced a new commercial strategy for China that will help assure that U.S. firms are successful in the new markets that will be opening up in that country. "Our China plan will be the most aggressive effort we've ever mounted, involving every trade agency in government," Daley said March 31 in remarks at a Commerce Department function. "The goal is to make sure our companies are as successful in China's markets immediately when they open, as Chinese companies have been in our markets," he said. The new strategy depends on Congress granting China permanent normal trade relations (PNTR), said Daley, who is leading the Clinton administration's efforts on PNTR. "We're making good progress, but the outlook remains mushy," he conceded. The China strategy would combine increased trade promotion, expanded finance by the Export-Import Bank of the United States and a new emphasis on assuring China's compliance with its trade agreements, Daley said. "We're also planning to station compliance personnel in China," he said. The Chinese government, as part of its effort to join the World Trade Organization (WTO), reached a bilateral agreement with United States last November in which it agreed to greatly increase the access U.S. firms have to China's domestic markets. For U.S. companies to reap the benefits of the agreement, the United States Congress must pass legislation granting China PNTR, the status enjoyed by nearly all other countries in the world. The Congress appears likely to vote on China's PNTR in May. Following is the excerpt of Daley's remarks on the new commercial strategy: (begin excerpt) As all of you know, President Clinton asked me to lead our efforts to get Congressional approval for China's entry into the World Trade Organization. These days, you can find me on the Hill, easier than on the fifth floor. Although I did show up at the office yesterday, because a real true, blue American heavyweight showed up to endorse the China bill -- Jesse Ventura! Like Jimmy Carter, when he created the Commercial Service to take advantage of the Tokyo Round -- I want to be ready for our historic moment, too. I want trade experts around government to help American companies take full advantage of China's entry, immediately when it happens. The largest country in the world, is only our 10th largest market for small exporters, so the potential is vast. Today, I am releasing to Congress a new commercial strategy for China. It is part of this: the National Export Strategy, the annual report put out by the Trade Promotion Coordinating Committee. I wanted to personally hand a copy to Senator Sarbanes, who was to be here. He had to cancel at the last minute, but Marty Gruenberg from the Banking Committee is here, and he will hand deliver this to the Senator. Our China plan will be the most aggressive effort we've ever mounted, involving every trade agency in government. The goal is to make sure our companies are as successful in China's markets immediately when they open, as Chinese companies have been in our markets. The strategy has three key parts: promotion, financing, and compliance. We will launch programs that take advantage of the Internet, like virtual trade missions. We will help the Chinese organize buying trips to the United States. We will expand financing by the Ex-Im Bank. And given the increased volume of trade, we will develop an effective process to deal with trade disputes when they arise. We're also planning to station compliance personnel in China. Obviously, we must first convince Congress to go along with China's entry. We are making good progress, but the outlook remains mushy. So next month, Secretary Glickman and I will take members, especially those uncertain on the vote, to China. We want them to see it all: the local factories, the U.S. facilities. We want them to talk with dissidents and Chinese officials. And I want them to talk to our commercial officers. Because like every commercial officer around the world, those in China understand what exporting means to the economy. But they also understand what it means to creating a better, and more stable, and safer world. Let me just say, on behalf of all the people at Commerce, I want to thank again those who are here, those in the states, those in the foreign countries. Every day, you bring life to the words inscribed on the building, that I see when I walk in. The words of Ben Franklin: "Commerce among nations should be fair and equitable." (end excerpt) (Distributed by the Office of International Information Programs, U.S. Department of State. Web site: usinfo.state.gov)
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