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China and the United States wrapped up their annual trade negotiations in Washington D.C. Tuesday with consensus reached on a series of issues.

At the day-long meeting, the two sides agreed that the China-US High Technology and Strategic Item Trading Working Group will be established within the China-US Joint Commission on Commerce and Trade (JCCT) framework, officials said at a press conference on Tuesday.

The two sides also agreed to continue the Informal Steel Dialogue, to start and strengthen the intellectual property rights (IPR) protection mechanism, and further enhance cooperation in the tourism sector.

In addition, China agreed to conditionally resume importing US beef, while the US said it would lift the ban on imported processed poultry meat from China.

The 17th JCCT meeting was jointly chaired by Chinese Vice Premier Wu Yi and US Secretary of Commerce Carlos Gutierrez and US Trade Representative Robert Portman.

Stressing that economic and trade cooperation is an important component of Sino-US relations, Wu Yi said that the 17th JCCT meeting reflected the spirit of "mutual benefit, development and win-win" and demonstrated the will of both sides to properly solve problems through equal consultations and to promote the steady development of China-US economic and trade relations through strengthened cooperation.

Noting that China has been making efforts to promote the balanced development of trade between the two countries, the Chinese vice premier said it needs joint efforts from both sides to resolve the bilateral trade imbalance.

Wu said relaxing restrictions on exporting high-tech products to China from the US side will be conducive to achieving a trade balance between the two countries.

With regard to IPR protection, Wu said it is an important issue for China, and a series of measures have been taken to address it, adding that marked progress has been made in this respect.

IPR protection is an international issue. International cooperation, communication and coordination as well as joint efforts are needed to address it, Wu said.

The US said economic and trade relations between the two countries are the most important, and the JCCT has become an important platform and consultation mechanism for bilateral economic and trade relations.

Describing the discussions at the 17th JCCT meeting as frank and constructive, the US said the meeting yielded important results, which will contribute to the fair, sustained and balanced development of economic and trade relations between the two countries.

The US also said it will enhance and promote high-tech trade between the two sides.

Established in 1983, the JCCT is a government-to-government consultation mechanism that provides a forum for addressing trade concerns and pursuing bilateral commercial opportunities.

(Xinhua News Agency April 13, 2006)