China, Japan Work Out Solutions to Trade Dispute

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Last updated at: (Beijing Time) Friday, December 21, 2001

China, Japan Work Out Solutions to Trade Dispute

China and Japan reached consensus on their trade dispute over agricultural products at ministerial talks Friday morning. Chinese Minister of Foreign Trade and Economic Cooperation (MOFTEC) Shi Guangsheng said that Japan promises to stop excising restrictions on agricultural imports from China, while China pledges to cancel its retaliatory measures against imports from Japan.

China, Japan work out solutions to trade dispute

Ministers of China and Japan held talks Friday morning and worked out solutions to lingering trade dispute over three farm imports from China.

The one-hour talks between Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng, and Japanese International Trade and Industry Minister Takeo Hiranuma and Agricultural, Forestry and Fisheries Minister Tsutomu Takebe reached a memorandum with three-points consensus:

First, Japan decides not to launch formal protection measures on the three farm imports from China, namely green Chinese onion, fresh mushrooms and tatami rushes;

Second, China decides to withdraw imposing 100 percent punitivetariffs on imports of Japan-made automobiles, mobile phones and air conditioners;

Third, both sides will hold further discussions and strengthen cooperation on farm produce trade through governmental and non-governmental channels.

The memo says that the two sides agreed to set up a trade cooperation coordinative mechanism for the three farm products at an early date and promote the steady and healthy bilateral trade relations.

The two governments agreed to strengthen cooperation, information exchanges and macro-guidance to enterprises for maintaining normal trade, striking against illegal trade, it says,adding that further consultation will be held when necessary.

The memo also says that non-governmental organizations in the two countries will set up an information exchange and consultationmechanism of broad representativeness for the trade of farm products, so as to exchange information on market demand, product quality, quantity and price.

Through such a mechanism, both can have prompt understanding onproduction, trade and market demands and make concerted efforts inraising farm produce quality and guiding a healthy development of the plantation, production and trade of the two countries' farm products, it says.

Before the establishment of the mechanism, China and Japan agree to make joint efforts for the stable and healthy trade of the three farm products, it says.

China, Japan Reach Consensus on Trade Dispute