Sat, Dec 3, 2016 | updated 10:15 AM IST

China, U.S. to hold annual trade talks on commerce and trade

Updated: Nov 12, 2016 07:37 IST
Beijing [China], Nov. 12 (ANI): Annual talks on commerce and trade will be held by China and the United States in Washington D.C., where both nations will exchange ideas of important economic and trade issues, as well as ways to expand cooperation in their last high-level economic dialogue this year.

The state owned Xinhua news agency quoted China's Foreign Ministry spokesperson Lu Kang saying at routine press briefing that the 27th Session of the China-U.S. Joint Commission on Commerce and Trade (JCCT) is scheduled for Nov. 21 to 23.

The talks will be co-chaired by Chinese Vice Premier Wang Yang, U.S. Secretary of Commerce Penny Pritzker and Trade Representative Michael Froman.

The talks will also be attended by U.S. Secretary of Agriculture Tom Vilsack.

A CEO roundtable conference and conferences on the digital economy and agriculture and food will also be held by the two countries on the sidelines of the JCCT.

U.S. was China's second largest trade partner, biggest export market and the fourth largest source of imports in 2015 where as the China was the largest trade partner and import source, and the third export market of the U.S..

The bilateral trade volume of goods stood at 558.4 billion U.S. dollars, with more than 160 billion U.S. dollars of mutual investment.

JCCT was launched in 1993 as the the first high-level economic dialogue mechanism between the two sides. (ANI)