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1. Wide shot of joint news conference and signing ceremony
2. Mid of joint news conference
3. Chinese delegation
4. US delegation
5. SOUNDBITE: (English) Henry Paulson, US Treasury Secretary:
“Today my colleague, Vice Premier Wang Qishan and I will sign a 10 year energy and environmental cooperation framework, through which we will address some of the most important and difficult challenges facing our nation and the world today, energy security, environmental sustainability and climate change.”
6. Mid of news conference
7. SOUNDBITE: (Mandarin) Wang Qishan, Chinese Vice Premier:
“This common ground and outcomes show fully that the fourth round of SED is highly successful. A round with many highlights of cooperation and also one with far reaching impact, I’m confident with our joint efforts the SED will play and increasingly important role. Bilateral economic cooperation will enjoy broader prospects and our constructive and cooperative relationship will make new strides forward.”
8. Signing ceremony
9. Close up of Chinese Vice premier signing agreement
10. Close up of Paulson signing agreement
11. Wide shot of Wang and Paulson exchanging signed documents and shaking hands
The United States and China, concluding high-level economic talks, agreed to launch negotiations on an investment treaty that holds out the promise of greatly expanded opportunities for US companies in China’s vast market.
The two countries also pledged greater cooperation to deal with energy shortages and global pollution.
The agreements were announced on Wednesday by Treasury Secretary Henry Paulson.
Speaking at a news conference, Paulson said the 10-year cooperative agreement would allow the two countries to address “some of the most important and difficult challenges facing our nations and the world today – energy security, environmental sustainability and climate change.”
The announcements came as the two countries concluded two days of talks aimed at defusing simmering economic tensions.
Paulson and Wang participated in a joint signing ceremony in Treasury’s ornate Cash Room to wrap up the fourth round of a series of talks known as the Strategic Economic Dialogue (SED).
“I’m confident with our joint efforts the SED will play and increasingly important role. Bilateral economic cooperation will enjoy broader prospects and our constructive and cooperative relationship will make new strides forward,” Wang said.
The announcement on Wednesday represented a fleshing out of details of an agreement that was initially announced at the last round of talks in Beijing in December.
Paulson said the framework would focus on five major areas – electricity, air, water, transportation and conservation of forest and wetland ecosystems.
In his remarks, Wang called the discussions a “complete success” and said the decisions made would have far-reaching affects.
He said he believed the strategic dialogue process would play an “increasingly important” role in the future with the next meeting scheduled for China in December.
Paulson and Wang both led large delegations that included many of the top economic policymakers in both nations. President Bush met with the Chinese officials shortly before the closing signing ceremony.
The decision to pursue an investment treaty with China offers the prospect of dismantling a multitude of barriers that US companies now face in their efforts to do business in China.
Administration officials stressed that the negotiations were expected to be lengthy and intense. It took 17 months of preliminary discussions to reach an agreement to begin the negotiations and the expectation is that any deal will not be completed until a new administration takes office.
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