Monday, 21 October, 2019

China, India agree to set up mechanism for trade

A Welcome Gate For Xi Studded With 18 Types Of Organic Fruits Vegetables Xi given warm welcome in India
Patty Aguilar | 12 October, 2019, 22:29

The Wuhan summit had been held in the post-Doklam period, after India and China emerged from a bruising 73-day long stand-off on the Himalayan heights of Bhutan in 2017.

Sixth, China and India should strengthen cooperation in global and regional affairs. Xi said the two leaders had "heart to heart discussions" on bilateral relations.

Gokhale said the two countries chose to set up a group at the finance ministers' level to discuss trade and investment issues, especially India facing a whopping $63 billion trade deficit with China.

Noting that China-India cultural and people-to-people exchanges bear great potential, the Chinese president urged both countries to take the 70th anniversary of China-India diplomatic relations next year as an opportunity to conduct broader and deeper cultural and people-to-people exchanges.

"Swachh Bharat" has been a pet project of the Prime Minister ever since he came to power in 2014 and his government, especially Minister Rajyavrdhan Singh Rathore also launched the #HumFitTohIndiaFit movement.

India and China are both members of the RCEP along with 10 ASEAN nations - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam - and their trade partners - Australia, Japan, South Korea and New Zealand.

Foreign Secretary Vijay Gokhale told reporters that Chinese President Xi Jinping is ready to take measures to reduce India's deficit in the bilateral trade.

First, Xi said, China and India need to correctly view each other's development and enhance strategic mutual trust.

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Modi-Xi meet marked by bonhomie, lays foundation for stronger ties
The World Heritage site of Mahabalipuram is home to historical monuments that pay testament to India and China´s ancient ties. Receiving Xi at the entrance, Modi also extended warm welcome to the Chinese president.

It mostly revolved around economic cooperation and struggle against extremism that plagues both India and China.

They reaffirmed a pledge made at the last summit in Wuhan, China, that "both sides will prudently manage their differences and not allow differences on any issue to become disputes", said an Indian government statement.

When queried on the escalating trade war between the US-China, and the likely impact on the Indio-China trade, Gokhale said that there was no direct bearing on India-China trade on what is happening between the US and China.

China supported Pakistan in raising India's actions at the UN General Assembly meeting in NY.

Mr. Xi left for Nepal on Saturday afternoon after wrapping up his two-day visit. He invited Modi for meetings in China again.

Mr. Modi and Mr. Xi also agreed to explore the possibility of forming a "manufacturing partnership" through the proposed mechanism.

Misri also stressed the importance of India-China cooperation under multilateral frameworks such as the Shanghai Cooperation Organization, BRICS and the G20.

Noting that he attaches great importance to the friendship with Xi, Modi said he is willing to maintain such conducive and effective strategic communication with Xi and together create a attractive future for India-China relations. Modi said that Indian looks forward to this and it is important that balanced is maintained in goods and services, and investments.

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