Sunday, October 16, 2005

Small Business: More Cooperation between U.S. and Chinese SMEs

Chinese and American SMEs are seeking more cooperation in an attempt to reduce frequent trade frictions between the two nations.

A survey by the US-China Business Council (USCBC), shows that companies from the United States, especially those of small and medium sizes, have benefited from China's entry into the WTO.

Last year the China Council for the Promotion of International Trade, signed a letter of intent with the US Department of Commerce and US Small Business Administration last year to boost the communication between SMEs in both countries and to ease the trade friction.

In July, China and the United States signed a cooperative project memo, aimed to launch the Sino-US international partner network program in China's 14 cities.

Craig Allen, counsellor of the US embassy to China said that SMEs from both countries should further intensify an all-around cooperation in future.