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ReturnIndia, China target $40bn trade by 2010
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PublishDate：
2006-11-22 16:10:00
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NEW DELHI: Rows and rows of cheap, shiny plastic toys; colourfully-wrapped firecrackers, electronic gizmos and silk neatly stacked on shop shelves are the most visible signs of China in India. But prepare yourselves for the next wave of ‘Made in China’ products to appear on market shelves as the dragon gets ready to come to town. And also imagine this, the Chinese eating Indian basmati rice and buying made in India clothes.
The world’s two fastest economies on Tuesday set the bar high for bilateral trade and agreed to increase the volume of bilateral trade to $40bn by ’10. Talks between prime minister Manmohan Singh and Chinese president Hu Jintao on Tuesday largely centred around increasing trade and co-operation, leaving the contentious for another day. In a joint declaration released at the end of the talks, the two countries promised to diversify the trade basket, remove existing impediments and optimally utilise the present and potential complementaries in their economies.
In a joint press briefing after talks, Mr Singh, who has met Mr Hu five times and is said to share a “good rapport” with him, said: “President Hu and I have agreed that comprehensive economic and commercial engagement between India and China will receive our urgent and particular attention.”
Though the two sides talked at length on civil nuclear issues and resolving outstanding border issues, there was no forward movement on either. India, unsure of the Chinese stand, did not seek support from China in the Nuclear Suppliers’ Group (NSG) while both sides just reiterated old stated positions on the boundary issue and urged the special representatives to accelerate their efforts to find a solution. The sides agreed on a 10-pronged strategy to carry forward bilateral ties and signed 13 agreements.
President Hu’s visit, the first in 10 years by a Chinese president, was largely viewed as a symbolic one with no real forward movement expected on outstanding issues. But both governments clearly meant business on issues of increasing trade and promoting investment.
During talks, the Chinese side did not formally bring up its apprehensions, voiced by Chinese ambassador Sun Yuxi, of Chinese companies not getting a level playfield in India. Foreign secretary Shivshankar Menon said that the talks, which were positive, centred on how to increase investment and trade without going into any negatives.
However, Beijing clearly had investment barriers in mind as Chinese foreign ministry spokesperson Jiang Yu back home urged India to clear trade and investment barriers to raise the level of co-operation. The spokesperson said she hoped India and China will make concerted efforts to remove trade and investment barriers and continuously raise the level of trade and economic co-operation.
Source: Industry Website
The world’s two fastest economies on Tuesday set the bar high for bilateral trade and agreed to increase the volume of bilateral trade to $40bn by ’10. Talks between prime minister Manmohan Singh and Chinese president Hu Jintao on Tuesday largely centred around increasing trade and co-operation, leaving the contentious for another day. In a joint declaration released at the end of the talks, the two countries promised to diversify the trade basket, remove existing impediments and optimally utilise the present and potential complementaries in their economies.
In a joint press briefing after talks, Mr Singh, who has met Mr Hu five times and is said to share a “good rapport” with him, said: “President Hu and I have agreed that comprehensive economic and commercial engagement between India and China will receive our urgent and particular attention.”
Though the two sides talked at length on civil nuclear issues and resolving outstanding border issues, there was no forward movement on either. India, unsure of the Chinese stand, did not seek support from China in the Nuclear Suppliers’ Group (NSG) while both sides just reiterated old stated positions on the boundary issue and urged the special representatives to accelerate their efforts to find a solution. The sides agreed on a 10-pronged strategy to carry forward bilateral ties and signed 13 agreements.
President Hu’s visit, the first in 10 years by a Chinese president, was largely viewed as a symbolic one with no real forward movement expected on outstanding issues. But both governments clearly meant business on issues of increasing trade and promoting investment.
During talks, the Chinese side did not formally bring up its apprehensions, voiced by Chinese ambassador Sun Yuxi, of Chinese companies not getting a level playfield in India. Foreign secretary Shivshankar Menon said that the talks, which were positive, centred on how to increase investment and trade without going into any negatives.
However, Beijing clearly had investment barriers in mind as Chinese foreign ministry spokesperson Jiang Yu back home urged India to clear trade and investment barriers to raise the level of co-operation. The spokesperson said she hoped India and China will make concerted efforts to remove trade and investment barriers and continuously raise the level of trade and economic co-operation.
Source: Industry Website
