Chinese premier meets Obama, vowing to speed up BIT negotiations

BEIJING, Nov. 12 -- Chinese Premier Li Keqiang met with visiting U.S. President Barack Obama in Beijing on Wednesday, and both agreed to speed up efforts to reach a bilateral investment treaty.

Li said the two countries shared common interests and broad cooperation prospects in safeguarding world peace and stability; and promoting sustainable growth of the global economy.

Li applauded the strategic talks between President Xi Jinping and Obama earlier on Wednesday.

The premier called on both sides to enhance strategic trust, give full play to respective advantages, enrich their new type of major-country relationship, and strengthen win-win cooperation.

He urged that differences between both countries must be handled properly with the support of the principle of mutual respect and equality, in order to push the China-U.S. relationship forward on the correct path.

Calling trade cooperation a ballast and propeller for China-U.S. ties, Li hoped both countries could reach a high-level and balanced bilateral investment treaty as soon as possible in pragmatic and flexible manner.

Li proposed the cultivation of new growth points for bilateral trade, expand cooperation in infrastructure building and upgrade scientific and technological cooperation.

He urged the U.S. government to take substantial measures to relax restrictions on high-tech products exports to China.

China and the United States announced their respective post-2020 goals of coping with climate change in a joint announcement issued after the Xi-Obama talks.

Li hoped both sides would take the opportunity to expand cooperation in such areas as shale gas, nuclear power, renewable energy and low-carbon environmental protection technology.

He urged the United States to take a positive attitude and introduce concrete action in the export of energy products and technology to China.

Both Li and Obama are leaving for Myanmar to attend the upcoming East Asia Summit.

Considering China and the United States as important members of the summit, Li called for joint efforts with the United States to enhance coordination in global and regional affairs; and jointly safeguard regional and world peace, development and prosperity.

Calling the two countries "very close" partners, Obama said the United States was ready to speed up negotiations with China on a bilateral investment treaty, expand trade and promote trade liberalization.

He also pledged to step up bilateral cooperation in energy and innovation, promote respective economic growth and employment, in a bid to promote world economic recovery.

The United States welcomes more Chinese companies to invest in the country, Obama added.

Obama arrived in Beijing Monday to attend the 22nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting and pay a state visit to China at the invitation of President Xi Jinping.