China and India have reached a consensus on goods
and services trade, investment, facilitation of trade
and investment and economic cooperation and are confident
of completing the joint feasibility research on a regional
trade agreement (RTA).
discussions earlier this week, both sides "fully"
exchanged views and reached a consensus, China`s commerce
ministry said in a statement, without elaborating.
sides will meet again in August in New Delhi and wrap
up the joint research by October as the leaders of both
countries required, it said.
China-India trade arrangement would give a significant
boost to the vast East Asian and South Asian markets
while facilitating Asian economic integration, Chinese
vice-minister of commerce Yi Xiaozhun said.
the first four months of the current year, trade between
the two countries surged 56.8 per cent over the same
period last year - the highest for all major trade partners
of China - to $11.4 billion.
Indian and Chinese governments have set a target of
achieving $40 billion in bilateral trade by 2010. In
2006, the two Asian giants achieved a bilateral trade
of $25 billion.
Delhi and Beijing have each held such consultations
twice after Chinese premier Wen Jiabao and Indian prime
minister Manmohan Singh initiated the joint feasibility
research in April 2005.
India''s neighbour and a close ally of China arrived
at a free trade agreement with China on in November
discussions on the sidelines of the G-8 summit in Berlin,
the two countries again called for stronger ties between
minister Manmohan Singh said New Delhi wanted the "strongest
relationship" with Beijing and would do "everything
possible" to cement the ties as he met president
Hu Jintao here.
their 30-minute meeting, Hu hailed Singh`s "insight
and vision", saying it had helped bilateral relations
in "most impressive way".
for the second time in seven months, the two leaders
reviewed the status of bilateral ties, particularly
progress on implementation of 10-point strategy agreed
upon last November to boost the relations.