China, US celebrate 30 years of maritime trade

(Xinhua)
Updated: 2009-03-28 14:16

LONG BEACH, California -- China and the United States could strengthen their dialogue and cooperation in the field of maritime shipping to jointly face the current global economic recession, which has hit the industry badly, Chinese Minister of Transport Li Shenlin said here Friday.

Speaking at an event to mark the 30th anniversary of the resumption of the Sino-US maritime trade, Li said that the annual two-way trade volume between China and the US has increased more than 130 times to about 334 billion dollars since 1979, when the two countries normalized diplomatic ties and restarted bilateral maritime trade.

"In the past 30 years, the Sino-US maritime trade developed very, very fast, providing a secure support to the development of bilateral economic and trade relations," Li said on the deck of COSCO Long Beach, a container vessel of China Ocean Shipping (Group) Company.

Recalling that a COSCO merchant ship named Liu Lin Hai called on the Seattle Port in 1979, becoming the first Chinese vessel to arrive in the US in decades, Li said that COSCO has since contributed significantly to the Sino-US trade relations and become one of the world's largest shipping companies itself.

The Chinese minister was leading a high-level delegation including governmental officials and shipping executives for the anniversary celebration, jointly organized by COSCO and the Long Beach Port Authority.

While addressing a forum on Sino-US maritime development and cooperation at a Long Beach hotel later in the day, Li said that the Chinese government, by introducing its massive economic stimulus package, is willing to join hands with the United States and other countries to face the global recession.

He stressed China's stance for encouraging market competition in the maritime field and opposing any forms of trade and investment protectionism in areas like shipping and port management and operation.

James Caponiti, acting deputy administrator of the US Maritime Administration of the Department of Transportation, said at the forum that US-China cooperation in maritime shipping has developed steadily in last 30 years even there were difficult political and economic situations during the period.

In a congratulation letter to Wei Jiafu, president and CEO of COSCO, US congressman and chairman of the House Transportation and Infrastructure Committee James Oberstar lauded the Chinese shipping company as a major factor in creating commercial ties and economic benefits that have served to better US-China relations.