Delhi: Chinese Premier Zhu Rongji will meet Indian
business leaders on 16 January in Mumbai. This will follow
the first meeting of the high-level business delegation
accompanying the premier held at the Confederation of Indian
Industry (CII) here on 14 January.
19-member-strong Chinese delegation is headed by Yu Xiaosong,
chairman of the China Council for the Promotion of International
Trade (CCPIT). Xiaosong, representing the Chinese delegation,
said CII and CCPIT must work together for the promotion
of business between the two countries. To initiate this,
he said, CCPIT is ready to take up CIIs offer to partner
in the India Engineering Trade Fair 2003.
stressed the need for the two countries to work together
to realise the benefits of theWTO and exchange and learn
from each others experiences of economic reforms. In a
promising start to the Chinese business delegations visit
to India, Wang Jinzhen, director-general, international
relations department, CCPIT, echoed Xiaosongs views and
said: "CCPIT agrees to work with CII on the joint working
group on trade and investment."
T K Bhaumik, senior advisor (trade policy), CII, in a presentation
on India and China: Engaging Each Other, suggested that
CII and CCPIT should form an industry-level joint working
group on trade and investment, a sectoral coordination committees
to build sectoral synergies between the two countries and,
then in near future, head for a preferential trade agreement.
Emphasising Indias stand on the WTO, Bhaumik said India
is for strengthening multilateralism, free-and-fair trade
environment, a greater market access, better implementation
of WTO agreements and a total transparency in the functioning
of the WTO. "India and China share many common concerns
and hence should work together along with other countries
to create a better and equitable WTO." He suggested
setting up of a joint working group on the WTO.
Earlier, in his welcome remarks, Sunil Kant Munjal, chairman,
CII economic affairs committee, and managing director, Hero
Corporate Services, hoped that Rongjis visit and the accompanying
business delegation to India will further the Indo-China
relationship. "Coming in the wake of Chinas entry
into the WTO, the Chinese premiers visit assumes an even
Munjal said that for greater economic ties between the two
countries, CII has recommended:
Setting up a joint working group in the fields of services,
IT, environment, energy, agriculture and agro-processing
industry, pharmaceuticals and the WTO.
2. A joint study of the regions of India and China for products
3. Promote opportunities for Sino-Indian cooperation in
different cities of both the countries.
4. Organise Indian exhibitions in China.
5. Cooperate in areas of infrastructure development.