April 11, 2006 -- The Association of Equipment Manufacturers (AEM) recently became one of several parties to sign an agreement between the United States and China pledging cooperative efforts to improve the U.S.-Sino trade balance. During a special signing ceremony April 4 in Los Angeles, AEM Senior Vice President Al Cervero joined a select group of signatories that included China Vice Premier Madame Wu Yi and Los Angeles Mayor Antonio Villaraigosa.
Under the agreement, AEM will work with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) on a variety of activities to promote U.S. products to the Chinese marketplace. CCCME is a governmental body within the China Ministry of Commerce that makes trade policy recommendations. The association initiated a dialog with CCME several years ago as part of ongoing efforts to facilitate trade opportunities for AEM member companies. The association represents the off-road equipment manufacturing industry (construction, agriculture, forestry, mining, and utility). The current agreement is based on a memorandum of understanding AEM and CCCME signed in 2003.
“We have built a strong working relationship with CCCME and other Chinese officials and have become the recognized leader for our industry,” Cervero said. “We will continue to use this influence to advance the benefits of U.S. equipment and technologies and how they can improve Chinese productivity.”
The agreement specifically notes cooperative efforts positioning AEM's CONEXPO Asia trade show as an important platform to promote U.S. products. The inaugural CONEXPO Asia exhibition will be held in May 2006 in Beijing.
The April 4 ceremonies also included the signing of more than 25 contracts and agreements for China to buy $4 billion worth of products from U.S. companies. Terex was among the signers, for a $150 million order of off-highway haul trucks. Event participants included a 100-plus member Chinese trade delegation on a multi-state tour organized by CCCME, which included a visit to Caterpillar in Peoria, Ill.
