US/China economic negotiations include new export credit guidelines

(The White House, Washington, 12 November 2014) President Obama and President Xi recognize the importance of economic relations at the core of the U.S.-China bilateral relationship. The two Presidents commit to deepen bilateral economic ties. To this end, the United States and China commit to pursue policies that promote more open and market-driven bilateral and international trade and investment. This includes pursuing a high-standard and comprehensive bilateral investment treaty that embodies the principles of non-discrimination, fairness, openness, and transparency. In 2012, the US and China launched multilateral negotiations around new international export credit guidelines in the 18 nation International Working Group on Export Credits (IWG), outside of the OECD ECA working group. Through 6 meetings the US believes the IWG has made significant progress and is now at a critical juncture as it works to develop guidelines that, taking into account varying national interests and situations, are consistent with international best practices.