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India, China deepen economic cooperation

11-27-2012 07:52 BJT

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India and China have decided to expand their economic and trade cooperation. At the second India-China Strategic Economic Dialogue, both countries signed 11 memorandums of understanding valued at over 5 billion dollars. This dialogue is being seen as one of the most successful efforts at building relations between the two economies.

As the world looks at India and China to better their economies, India and china have decided to cooperate and communicate more to increase investment in each others countries. The second India china economic dialogue saw Zhang ping, chairman of national development and Reform commission of china say that’s now it about action to increase cooperation between both the nations.

Zhang Ping, Chairman of National Development & Reform Commission, said, "In the last year, both sides have made progress and preparations for the second meeting. And during this meeting, both sides will not only discuss macro-economic policies, but they will also take business to the next level."

India and China have decided to expand their economic and trade cooperation. At the
second India-China Strategic Economic Dialogue, both countries signed 11 memorandums
of understanding valued at over 5 billion dollars.

India and China are looking at energy, environment and railways as big sectors. India is also looking at using china’s expertise in building High speed rail corridors.

Montek Singh Ahluwalia, Vice Chairman of Planning Commisstion, said, "There are many areas in railways which we would be interested in. Certainly high speed rail is one possibility also modernisation of railway stations. The Chinese have done an outstanding job of upgrading and modernising their railway stations and that’s something as can collaborate on."

India and China have decided to expand their economic and trade cooperation. At the
second India-China Strategic Economic Dialogue, both countries signed 11 memorandums
of understanding valued at over 5 billion dollars.

Currently India and China’s bilateral trade stands at 74 billion dollars and the target is to take to 100 billion dollars by 2015 but the figures could be much better with both the countries planning to cooperate on macro economic policy level. Even though differences remain including the issue of Chinese telecom companies entering India, both the nations are looking at the positives for now.

 

 

Editor:Zhang Jingya |Source: CCTV.com

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