India and China 'to double trade'
By Dorai Krishnan,WNS India Bureau Chief
NEW DELHI - India and China have pledged to double trade to $40bn (£21bn) a year by 2010 during talks between Indian PM Manmohan Singh and Chinese President Hu Jintao. Mr Hu also said the two sides would continue efforts to solve their long-running border disputes. He was speaking in the capital Delhi during the first visit to India by a Chinese head of state for 10 years. China and India have overcome many hurdles in recent years but differences remain, correspondents say.China wants to boost its exports of manufactured goods to developing countries, while Indian firms, which have a comparative advantage in outsourcing of business and IT services, want more investment in China.
Mr Singh said there was enough space for the two countries to develop together in a "mutually supportive manner" after talks with President Hu. "We will endeavour to raise the volume of bilateral trade to $40bn by 2010 and encourage two-way investment flows," the Indian prime minister told a joint news conference in Delhi. That objective was reinforced by Mr Hu, who said the two sides would "sign an agreement on investment, promotion and protection between the two countries". During their talks, the two leaders had decided "to speed up the joint feasibility study on a regional trade arrangement", Mr Hu said.
Last year, China formally recognised the border state of Sikkim as part of India. The two sides also agreed to continue to work together to resolve other border issues. Mr Hu said that that work would continue. "Pending an eventual solution to the boundary question, the two sides need to continue their efforts to work together to maintain peace and tranquillity in the border areas," he said. Meanwhile, a number of Tibetan activists have been detained in Delhi for protesting at Mr Hu's visit and alleged Chinese atrocities in Tibet. India now recognises Tibet as part of China, but still hosts more than 100,000 Tibetans, including the Tibetan government-in-exile led by the Dalai Lama.
posted by wnsworld @ 10:05 PM
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