Joint Commission on Commerce and Trade (JCCT)
Definition
JCCT was established in 1983 as a forum for high-level dialogue on bilateral trade issues between China and U.S. In 1994, as U.S.-China commercial relations became increasingly complex, the two governments institutionally strengthened the JCCT by establishing structured working groups covering trade and investment issues, business development and industrial cooperation, and commercial law, in addition to a side dialogue on export controls. From its inception until 2004, the JCCT was co-chaired by the U.S. Secretary of Commerce and China's Minister of Commerce. Following the December 2003 meeting of President Bush and Premier Wen the two sides agreed the Commission would be co-chaired on the U.S. side by two cabinet officials (the Secretary of Commerce and the U.S. Trade Representative) and, on the Chinese side, by the Vice Premier responsible for foreign trade.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
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