China and India forge trade partnership
Article 2 minute read

China and India forge trade partnership

20 May 2013

Chinese Premier Li Keqiang has pledged his support to a cross border trade relationship with India, saying the developing nations have the “wisdom” to find a mutually acceptable solution to the boundary problem.

Speaking after two rounds of talks with Indian Prime Minister Manmohan Singh, Mr Li said China will support its enterprises to increase investments in India and help Indian products have access to the Chinese market. Attendees at a function organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in Delhi were told that the trade relationship between the two big neighbours will lead to a “new paradigm” of cooperation, as new measures to support a favourable trade balance and decrease the trade deficit were outlined.

“India and China have not shied away from addressing the boundary question,” Mr Li said, adding that they have the “wisdom” to find a fair and mutually acceptable solution. “We are one-third of the world’s total population and our interactions attract the world. Without doubt, China-India relations are the most important global relations.”

To address the trade balance the global leaders have agreed to cooperate on pharmaceutical supervision - including registration - and create stronger links between Chinese enterprises and the Indian IT industry. Inward investment in India will help boost crucial industries which will also gain a huge potential consumer base as the Chinese markets open further to the world.

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