The Ministry of Commerce of the PRC announced that, on January 13, China and the US signed an exchange of letters concerning the issue of on site visits of validated end users (VEU) and the establishment of a cooperation mechanism between the Ministry of Commerce of the PRC and the US Department of Commerce regarding VEUs. This is another positive step forward in the hi-tech trade cooperation between the two countries.
The authorization program of VEUs allows US exporters to sell both designated military and civilian-use items directly to foreign end users who are authorized as VEUs with no need to apply for an export license. This will help to reduce transaction costs for VEU enterprises and stabilize trade expectations, which will overall facilitate bilateral trade between the two countries.
In 2007, the US Department of Commerce had unilaterally announced the names of VEU enterprises registered in China, causing the dissatisfaction of China. China reiterated that, without the approval of the Ministry of Commerce of the PRC, the US could not unilaterally carry out on site visits to VEU associated enterprises registered in China.
By People's Daily Online
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