BEIJING, Jan. 20 (Xinhuanet) -- The conclusion of the phase-one economic and trade agreement between China and the United States is an important step for both countries and the whole world, promoting a steady development of China-U.S. relations in the right direction, an expert said.
Diao Daming, researcher at National Academy of Development and Strategy, Renmin University of China, made the comments in a signed article on Xinhuanet.
The agreement covers issues that range from expanding bilateral trade in such sectors as agricultural products, manufactured goods, energy and service, to further broadening market access and enhancing the protection of intellectual property rights.
Under the deal, the two sides will establish the bilateral evaluation and dispute resolution arrangement to resolve issues in economic and trade relations in a fair, expeditious and respectful manner.
The agreement deals with issues that both sides are eager to address, and it is mutually beneficial as it fully addresses the reasonable concerns of both sides and in their interests, Diao said.
Diao noted that with the implementation of the agreement, relevant sectors and customers of the two countries will benefit, adding that both sides will be more motivated to deepen and broaden cooperation.
"China deserves the world's recognition and applause for its strategic perspective, responsible attitude and pragmatic approach," he stressed.
He said the hard-won trade deal meets expectations of both sides, which proves that only through dialogues and consultations can the two countries shelve differences and realize mutual benefits.