Chinese,US officials pledge greater regulatory co-operation

CHINESE and US maritime officials have agreed to work more closely together to deal with issues that could slow US efforts to stimulate exports.

The two sides agreed to open a dialogue about regulatory and administrative differences, including fees, affecting maritime shipping, US Federal Maritime Commission chairman Richard Lidinsky said, according to The Associated Press.

Mr Lidinsky said that in light of there being many modern and hi-tech ports in Asia, aging US facilities must be upgraded to meet President Barack Obama's goal of doubling American exports in the next five years.

"The infrastructure we see out here to support world trade is absolutely amazing," Mr Lidinsky said. "You can sit in the US and talk about it. But seeing it, brings home the effort we have to bring, to balance the supply chain. For our country, it's a vital goal to meet," he said.
(Source:www.schednet.com)