Mumbai: India and China have agreed to double
bilateral trade to $40 billion by 2010 and encourage
investment flows between the two countries.
two countries also agreed to make joint efforts to diversify
their trade basket, remove existing impediments, and
utilise the present and potential complementarities
to sustain and strengthen bilateral commercial and economic
Besides, a joint task force has been set up to study
of the feasibility and benefits of India-China Regional
Trading Arrangement and submit report by October 2007.
two countries also signed a memorandum of understanding
(MoU) for promoting synergies between their commodity
market regulators. India''s commodity market regulator
Forward Markets Commission singed the MoU with China
Securities Regulatory Commission, bringing the commodity
sector under the scope of their bilateral economic relations.
MoU was signed by FMC chairman S Sundareshan and Sun
Yuxi, Chinese ambassador to India, on behalf of CSRC,
in the presence of president Hu Jintao and prime minister
the agreement, the two bodies would exchange information
on investor disclosure norms, enforcement laws, operation
of brokers, monitoring, clearing and settlement of disputes.
They would also share information regarding market manipulation,
and other deceptive and fraudulent practices concerning
trading of commodity futures contract.
They would encourage collaboration between their enterprises,
including through joint exploration and development
of hydrocarbon resources in third countries.
joint declaration signed by the two leaders said the
two sides would
step up the exchange of experience in agriculture and
rural development, including food security, and hold
discussions on the standards for agricultural goods
to facilitate trade in such goods.