China, India target trade worth US$100b by 2015
Source: Agencies |
December 17, 2010, Friday
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Print Edition
Print Edition
The leaders of China and India yesterday called for a stronger partnership, committed to a huge increase in trade and hailed the creation of an emergency hotline, as they stressed a spirit of cooperation - not competition - between the two Asia's two neighbors.
Chinese Premier Wen Jiabao's three-day trip to India is aimed at building trust and strengthening economic links. "I hope that my visit will help increase our cooperation in a wide range of fields and raise our friendship to an even higher level," he told reporters after a welcome ceremony at the presidential palace.
"A strong partnership between India and China will contribute to long-term peace, stability, prosperity and development in Asia and the world," Indian Prime Minister Manmohan Singh said.
At their meeting yesterday, Wen and Singh agreed to work to increase trade between the two countries from US$60 billion a year now to US$100 billion by 2015, according to a joint communique.
China is India's largest trading partner. The two sides agreed to work to reduce the trade gap, though India failed to persuade China to lift restrictions on the import of Indian software, agricultural products and pharmaceuticals.
Wen and Singh also agreed to push forward with efforts to resolve lingering border disputes - which erupted into a brief war in 1962.
"It will not be easy to completely resolve this question. Only with sincerity, mutual trust and perseverance can we find a fair, reasonable and a mutually acceptable solution," Wen said in a speech yesterday.
Wen expressed hopes that increased ties would lead to greater trust between the two countries and said they should "lose no time in expanding our converging interests."
Wen and Singh announced the inauguration of a telephone hotline between the two premiers, while the leaders agreed to meet more frequently and to have foreign ministers meet once a year.
In addition, the two Asian neighbors agreed to initiate a strategic economic dialogue to enhance macro-economic policy coordination and pledged to expand exchanges and cooperation in trade, education, culture and environmental protection, among other fields.
The two leaders also discussed India's tense relations with Pakistan, according to Indian Foreign Secretary Nirupama Rao. Wen will visit Pakistan after leaving New Delhi today.
In Beijing, Foreign Ministry spokeswoman Jiang Yu expressed hopes for improved relations between India and Pakistan.
"Both India and Pakistan are China's neighbors. We sincerely hope the two countries can coexist in friendship and contribute to regional peace," Jiang said.
India was annoyed by China's recent refusal to stamp visas in passports of residents of Indian-held Kashmir.
At yesterday's meeting with Singh, Wen said he took India's concerns seriously and offered to hold joint consultations on the issue, Rao said.
Wen brought 300 Chinese business officials with him on his trip, and Indian and Chinese companies are signing US$16 billion worth of deals during the visit.
Singh accepted Wen's invitation to visit China next year.
Chinese Premier Wen Jiabao's three-day trip to India is aimed at building trust and strengthening economic links. "I hope that my visit will help increase our cooperation in a wide range of fields and raise our friendship to an even higher level," he told reporters after a welcome ceremony at the presidential palace.
"A strong partnership between India and China will contribute to long-term peace, stability, prosperity and development in Asia and the world," Indian Prime Minister Manmohan Singh said.
At their meeting yesterday, Wen and Singh agreed to work to increase trade between the two countries from US$60 billion a year now to US$100 billion by 2015, according to a joint communique.
China is India's largest trading partner. The two sides agreed to work to reduce the trade gap, though India failed to persuade China to lift restrictions on the import of Indian software, agricultural products and pharmaceuticals.
Wen and Singh also agreed to push forward with efforts to resolve lingering border disputes - which erupted into a brief war in 1962.
"It will not be easy to completely resolve this question. Only with sincerity, mutual trust and perseverance can we find a fair, reasonable and a mutually acceptable solution," Wen said in a speech yesterday.
Wen expressed hopes that increased ties would lead to greater trust between the two countries and said they should "lose no time in expanding our converging interests."
Wen and Singh announced the inauguration of a telephone hotline between the two premiers, while the leaders agreed to meet more frequently and to have foreign ministers meet once a year.
In addition, the two Asian neighbors agreed to initiate a strategic economic dialogue to enhance macro-economic policy coordination and pledged to expand exchanges and cooperation in trade, education, culture and environmental protection, among other fields.
The two leaders also discussed India's tense relations with Pakistan, according to Indian Foreign Secretary Nirupama Rao. Wen will visit Pakistan after leaving New Delhi today.
In Beijing, Foreign Ministry spokeswoman Jiang Yu expressed hopes for improved relations between India and Pakistan.
"Both India and Pakistan are China's neighbors. We sincerely hope the two countries can coexist in friendship and contribute to regional peace," Jiang said.
India was annoyed by China's recent refusal to stamp visas in passports of residents of Indian-held Kashmir.
At yesterday's meeting with Singh, Wen said he took India's concerns seriously and offered to hold joint consultations on the issue, Rao said.
Wen brought 300 Chinese business officials with him on his trip, and Indian and Chinese companies are signing US$16 billion worth of deals during the visit.
Singh accepted Wen's invitation to visit China next year.
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