Countries agree to deepen collaboration in agriculture, maintain sound momentum

China and the United States should work together to create a favorable environment for practical cooperation in agriculture and other sectors, the Ministry of Commerce said on Wednesday.

Li Chenggang, China international trade representative with the Ministry of Commerce and vice-minister of commerce, said during a meeting with a US agricultural trade delegation in Beijing on Tuesday that sound China-US economic and trade relations benefit not only both countries but also the world.

Since May, the two sides have held five rounds of talks under the strategic guidance of the important consensus reached by the two heads of state, helping stabilize trade ties.

READ MORE: China to extend tariff suspension on imported US products

This fully demonstrates that guided by principles of equality, mutual respect and reciprocity, China and the US can find solutions through dialogue and cooperation, Li said.

Recognizing that the two countries are major trading partners in agricultural products, Li said recent fluctuations in China-US agricultural trade stem from Washington's unilateral tariff measures, adding that the two sides have complementary strengths in natural endowments, markets, capital and technology, and enjoy broad space for cooperation.

He expressed the hope that the US would work with China to take a long-term view and foster a favorable atmosphere for substantive cooperation in agriculture and other fields.

Members of the US delegation said China is an important export market for US agricultural products, and the agricultural community values its partnership with China.

They expressed the hope that bilateral ties would maintain a sound growth momentum.

Jim Sutter, CEO of US Soybean Export Council, said, "We believe that enduring partnerships, built on trust and mutual benefit, are essential to navigate uncertainty."

Also upbeat about the Chinese market, US agribusiness giant ADM announced on Wednesday that it signed new cooperation agreements with major Chinese partners — including COFCO Group and China Grain Reserves Group — worth more than 20 billion yuan ($2.8 billion) during the ongoing 8th China International Import Expo in Shanghai.

In another development, the Ministry of Commerce announced on Wednesday that China will lift export control measures on 15 US entities and extend the suspension of such measures for another 16 entities for a year, effective Monday.

Exporters wishing to ship dual-use items to these entities must apply to China's Ministry of Commerce. The ministry will review the applications in accordance with relevant laws and regulations, and will grant approval to those that meet the required conditions.

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Another ministry statement said that China will remove or continue to suspend for a year certain measures imposed in March and April against several US entities that were previously added to China's unreliable entity list, also effective Monday.

China will continue to suspend the 24-percent additional tariff on imports from the US for a year while retaining the 10-percent rate, according to an announcement by the Customs Tariff Commission of the State Council.

China will make the adjustment from 1:01 pm on Monday.

Contact the writers at zhongnan@chinadaily.com.cn