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Home >> China
UPDATED: 11:14, April 05, 2006
China and the Pacific island countries set guiding framework for economic and trade ties
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China and the Pacific island countries on Wednesday in Nadi agreed to work for the establishment of a partnership of economic and trade cooperation on the basis of equality, complementarity, mutual benefit and respect.

The agreement was made in the China-Pacific Island Countries Economic Development and Cooperation Guiding Framework, which was signed here after the opening ceremony for the First Ministerial Meeting of the China-Pacific Island Countries Economic Development and Cooperation Forum.

Ministers of the Commonwealth of Australia, the People's Republic of China, the Cook Islands, the Republic of Fiji Islands, Federated States of Micronesia, New Zealand, Niue, the Independent State of Papua New Guinea, the Independent State of Samoa, the Kingdom of Tonga and the Republic of Vanuatu are here attending the two-day meeting.

Ministers believe that the establishment of the Forum will be conducive to cooperation between all participating countries for their mutual benefit in the field of trade and investment.

China and Pacific island countries agreed to strengthen and improve bilateral consultations through increasing high-level dialogues, exchange of visits, and consultations by senior officials, so as to identify new fields and methods of economic and trade cooperation, including discussion and establishment of mechanisms for consultation on multilateral economic and trade issues.

More efforts will be made to develop bilateral relationships and to revitalize cooperation in the economic field within the framework of existing bilateral consultation mechanisms.

And all mechanisms established within the Forum will be regarded as complementary to existing bilateral consultation mechanisms and will consistently enhance linkages between governments.

China and the Pacific island countries agreed to enhance cooperation, offer mutual support and coordinate positions, where possible, in the World Trade Organization and other multilateral trade-related areas.

Ministers agreed that the Ministerial Conference of the Forum will be held at least every four years or such other period as the participating countries may agree from time to time.

Source: Xinhua

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