InfoAnda - China, Japan vow to boost global recovery

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China, Japan vow to boost global recovery AFP - Monday, June 8 TOKYO (AFP) - - Japan and China, the world's second- and third-largest economies, Sunday pledged to throw their combined weight behind efforts to revive the struggling world economy, their delegation heads said. ADVERTISEMENT Both Asian economic giants also called for a resumption of stalled international talks to free up global trade and said they would for the first time launch joint assistance programmes for developing countries. "On the global economic and financial crisis, both countries agreed to implement what was agreed at the London summit swiftly and in a solid manner in order to realise the global economic recovery as soon as possible," said Japan's delegation leader, Foreign Minister Hirofumi Nakasone. At their London summit in April, the Group of 20 developed and major emerging economies agreed to commit one trillion dollars to the International Monetary Fund and other global bodies to help struggling economies. The G20 also said they would push for greater regulation of the global financial system to tackle the world's deepest economic crisis in decades, which has spelled recession for Japan and dented China's stellar growth rates. China's Vice Premier Wang Qishan said at a news conference with Nakasone: "Both sides underline the need to assume a consistent and responsible attitude to step up regional and international economic and financial cooperation." They were speaking after the second Japan-China High-Level Economic Dialogue that aimed to boost trade and investment between Japan and China, who are top trade partners but also economic rivals and competitors for resources. Japan, a high-tech and environmental technology leader, and China, the world's most populous country with a vast and cheap labour force, hope to increasingly join their economic forces for mutual benefit, experts said. Wang said: "We want to enhance bilateral trade ties further under this grand policy of forming strategic, mutually beneficial relations." Nakasone also said both countries would "cooperate in domestic economic measures, in actively supporting developing countries in Asia through international financial institutions, and in preventing protectionism." Both China and Japan called for an early conclusion to the Doha Round of trade talks under the World Trade Organisation (WTO) "so that the global economy will return on to a track of sustainable growth," Nakasone said. Wang confirmed that "we will work together with the rest of the world for a comprehensive and balanced outcome of the WTO Doha development round talks as early as possible while opposing trade and investment protectionism." Both countries also said they would for the first time jointly give development assistance to third countries, although they provided no details. The Japan Bank for International Cooperation and the Export-Import Bank of China agreed to "cooperate in foreign development aid to give financial support" to third countries, Japan's foreign ministry said in a statement. Both sides may have been singing from the same song sheet on many economic issues, but they also tackled a number of thorny issues, including rampant copyright and trademark piracy in China that has hurt Japanese companies. Beijing's Commerce Minister Chen Deming and Japan's Minister of Economy, Trade and Industry Toshihiro Nikai signed an agreement to launch annual officials talks on jointly cracking down on copyright and trademark piracy. "This memorandum does not solve everything but we will set up a working group soon for detailed talks," Nikai said. Nikai also reiterated Tokyo's view that China should scrap a plan to examine and certify more than a dozen types of IT products, including anti-hacking software, before foreign firms can sell them to China's government. The United States, Japan and other major IT manufacturers fear that China will use the process to learn software trade secrets. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business China, Japan pledge to boost global economic recoveryAFP - Monday, June 8 WRAPUP 1-Airline industry outlook still grim - execsReuters - Monday, June 8 Delek says may bid in Greek petrol station tenderReuters - Monday, June 8 Vizio files TV patent suit against LG in U.S.Reuters - Monday, June 8 Israel's FIBI to sell 2.58 pct of HOT to Cool HoldingReuters - Monday, June 8 Enlarge Photo China, Japan vow to boost global recovery Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Carradine may have died from sex act: Thai police Wall Street ponders if rally can run further Susan Boyle out of London clinic: brother Black boxes may never be found: crash investigators World 'getting closer' to swine flu pandemic: WHO View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! 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