Home / News / US, China Establish Technology Devt, Other Economic Opportunity Commitments

US, China Establish Technology Devt, Other Economic Opportunity Commitments

partnershipThe U.S. and China have made a series of commitments that aim to foster and protect technology development efforts as well as business opportunities for information and communications technology providers in support of economic initiatives.

A White House release posted Sunday stated that the two countries will utilize monetary, fiscal and structural policy tools for efforts to drive economic growth.

The countries said they will not support policies or practices that obligate the transfer of intellectual property rights or technology in order to authorize business in order to promote innovation.

The U.S. and China also commit to non-discriminatory ICT security measures that observe international norms and do not prevent commercial sales opportunities for foreign providers of ICT products and services, according to the statement.

The two countries will further implement a memorandum of understanding between the Commerce Department and its Chinese counterpart to jointly support trade and investment group exchanges as well as related promoting activities, the release added.

Other initiatives mentioned in the joint statement include the planned Bilateral Investment Treaty, a memorandum of understanding on subnational trade and investment cooperation, China’s supply-side structural reform and economic reform programs and the reaffirmation of the G-20 exchange rate commitments.

Check Also

Navy Eyes Single Combat System for Entire Surface Fleet

U.S. Navy officials are looking into developing a single combat system capable of operating on any kind of ship in the surface fleet to reduce the challenges in integrating ships and training service members, Defense News reported Monday. The Navy currently uses different combat systems on its destroyers, amphibious ships and carriers.

Leave a Reply

Your email address will not be published. Required fields are marked *