AEM Signs Agreement with China to Promote Trade

The Association of Equipment Manufacturers (AEM) is among the signers of an agreement between the United States and China pledging cooperative efforts to improve the U.S.-Sino trade balance.

During a signing ceremony April 4 in Los Angeles, AEM Senior Vice President Al Cervero joined a 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 dialogue with CCCME 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.

The agreement notes cooperative efforts positioning AEM’s ConExpo Asia trade show as an important platform to promote U.S. products. The inaugural ConExpo Asia will be held in May 2006 in Beijing.

AEM established a full-time office in Beijing, China, in 1997 to help its members gain access to the business opportunities in China.

The April 4 ceremonies also included the singing of more than 25 contracts and agreements for China to buy $4 billion worth of products from U.S. economies. Terex was among the signers, for a $150 million order of off-highway haul trucks.

More information is available at www.aem.org.