Exploring avenues to boost its stagnant exports, the US is apparently mulling a complete overhaul of its export control policies this year, which might pave the way for sale of more high-technology goods to India and China, especially in the field of green energy.
"We are reviewing the entire list of our export control system as some of the protections and restrictions make very little sense," US Secretary of Commerce Gary Locke said here, raising hopes among Chinese officials for
acquisition of some of the latest US technology, blocked by Washington over fears of intellectual property rights.
He said US hopes to increase its exports to emerging markets, including China, India, Brazil and Russia. China especially will be a key part of the US strategy to boost exports.
Locke is here to attend the two-day US-China Strategic and Economic dialogue starting from May 24.
US Secretary of State Hillary Clinton, who arrived in Shanghai on Friday, and Treasury Secretary Timothy Geithner would head a 200-member delegation, the largest ever to have
visited China, at the talks in Beijing.
The reform of US export control rules would be on top of the agenda of Chinese officials in their discussions with their US counterparts during the high-level meeting.
The US government is loosening controls over some commonly available high-tech goods, but will give more protection to the sensitive technologies that are important to national security, Locke said.
"Currently, less than 1 per cent of US exports to China require a license. Of those that do require a license, 98 per cent are approved. Streamlining items on the export
control list will cause the license to be issued more quickly," he was quoted by the official media here as saying last night.