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China, Japan Sign 2005-2010 Long-Term Trade Agreement

Posted on: Monday, 12 December 2005, 12:00 CST

Text of report by official Chinese news agency Xinhua (New China News Agency)

Tokyo, 5 December: China and Japan signed the China-Japan Long- Term Trade Agreement in Tokyo on 5 December. This provided a framework for trade exchanges between the two countries between 2006 and 2010.

Chen Jian, assistant to China's minister of commerce and chairman of China's China-Japan Long-Term Trade Agreement Committee, and Koga Kensuke, chairman of Japan's Japan-China Long-Term Trade Agreement Committee, signed the agreement.

The core content of this long-term trade agreement is that China and Japan will further strengthen cooperation in energy conservation technologies and equipment as well as environmental protection technologies and equipment, and has reached agreement on China's export of coal to Japan and China's import of energy conservation and environmental protection equipment and technologies from Japan.

This was the sixth time a similar agreement was signed since the first China-Japan Long-Term Trade Agreement was signed in 1978. The China-Japan Long-Term Trade Agreement has played an important role in maintaining the stable and rapid development of trade exchanges between the two countries. During this period, total bilateral trade between China and Japan increased from 4.82bn US dollars to 168bn US dollars in 2004. Total trade volume is expected to see further increases this year.

Source: BBC Monitoring Asia Pacific

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