labels: economy - general, trade
India-China trade to touch $50 billion by 2010news
25 September 2006

Mumbai: Bilateral trade between China and India would touch 20 billion dollars in the current year and is set to touch $30 billion by the year 2008, Chinese Ambassador Sun Yuxi told a trade cooperation conference organised by FICCI.

"Last year, we had drawn a five-year-plan for economic and trade cooperation. We had set a target of achieving bilateral trade volume of $20 billion by 2008," he pointed out, adding that going by the present trend, the trade is expected to touch $20 billion this year itself - two years ahead of the target.

At this pace, bilateral trade between the two countries will be around $30 billion by the end of 2008 and by the end of 2010, this is expected to touch $50 billion against the earlier target of $30 billion, he said.

However, he said, compared to Indian presence in China, Chinese representation is comparatively low in India, with just 15 Chinese companies having their presence in the country.

India and China also signed seven agreements, including an MoU between Ficci and China Council for Promotion of International trade.

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India-China trade to touch $50 billion by 2010