Today, I participated in the fourth meeting of the U.S.-China Strategic Economic Dialogue in Annapolis, MD. We came here to learn from each other and build on our strong economic partnership.
It was clear from our dialogue that we all recognize safe, efficient, and reliable transportation is critical to the U.S.-China trade relationship. By 2018, at the current pace, the U.S. and China will be the world’s two largest economies and will become each other’s largest trading partners. As our economies grow together, more goods and travelers cross the Pacific. As travel increases, so too does the need for expanding our transportation infrastructures.
During last year’s dialogue, we reached a new agreement to double the number of passenger flights by 2012. Air cargo companies also will have greatly expanded commercial freedom by 2011. But while we’ve made progress in expanding aviation opportunities and opening our ports, more must be done. That is why we have come together to establish a Transportation Forum that will help encourage sharing of successful policies, new technologies, and joint strategies to improve the flow of goods, services, and people between the U.S. and China.
We can learn from each other through cooperation and study of infrastructure development and innovative finance; urban congestion; technology in transportation; and efficient, safe and sustainable transportation development and rapid disaster response. I look forward to sharing the results of the Forum’s first project, a joint study-survey on “Trade Flows and Infrastructure Development” between the U.S. and China.
Through effective cooperation, we can help ensure that transportation promotes a stronger, more beneficial trade relationship that will bring lasting prosperity to both our great nations.
-Deputy Secretary Barrett