Press Esc to close
Sunday 29 March 2015
News updated at 7:07 PM IST
Weather
Max: 33.9°C
Min : 20.1°C
In Bengaluru
Sunny day

Wen to Manmohan: aware of need to balance trade with India

Phnom Penh, Nov 19, 2012 (IANS)

Chinese Premier Wen Jiabao Monday told Prime Minister Manmohan Singh that China is aware of the need for balancing bilateral trade that is heavily in favour of Beijing.

The two leaders met for 45 minutes here, perhaps the last such official meeting with the Chinese premier set to leave office in view of the leadership change in that country.

Manmohan Singh raised the issue of increasing India's market access to China, especially for IT, services and pharmaceuticals.

He emphasised the need for greater market access and increasing Indian exports to China, Foreign Secretary Ranjan Mathai said while briefing Indian journalists on the talks.
Wen said he is "cognisant of India's interests" for the need to balance trade, and said it will be done "gradually".

While the code of conduct for the South China Sea did not figure in the bilateral talks, Mathai said India favours such a code in the sea, to "make it an area of cooperation". Countries of the Asia and Pacific are demanding such a code in the South China Sea, a major trading waterway where China has been trying to establish control.

India-China bilateral trade hit a record $73.9 billion last year, but the ballooning trade deficit in Beijing's favour rose to over $27 billion.

The bilateral trade registered a $12.2 billion increase in 2011, taking the total to $73.9 billion as against $61.7 billion in 2010, according to official trade figures for 2011.

Chinese Vice President Xi Jinping is set to become president after being anointed general secretary of the communist party, while Li Keqiang is to be the prime minister, taking over from President Hu Jintao and Prime Minister Wen Jiabao respectively.

Manmohan Singh is visiting Phnom Penh from Nov 18-20, 2012 to attend the 10th ASEAN-India Summit and the 7th East Asia Summit


Go to Top

Photo Gallery
New Zealand players congratulate the Australian team following their seven wicket win...

New Zealand players congratulate the Australian team following their seven wicket win...

Australian captain Michael Clarke celebrates  seven wicket victory over New Zealand...

Australian captain Michael Clarke celebrates seven wicket victory over New Zealand...

Australia's captain Michael Clarke holds the Cricket World Cup trophy after they defeated...

Australia's captain Michael Clarke holds the Cricket World Cup trophy after they defeated...

Brand ambassador Pranitha subhash at Jewels exotica Akshaya Tritiya jewellery shopping...

Brand ambassador Pranitha subhash at Jewels exotica Akshaya Tritiya jewellery shopping...

Bollywood actor Katrina Kaif with her wax model at Madame Tussauds in London...

Bollywood actor Katrina Kaif with her wax model at Madame Tussauds in London...

Models at a fashion show at IIFT in Bengaluru on Friday night...

Models at a fashion show at IIFT in Bengaluru on Friday night...

People watch the PSLV-C27 take off carrying India's fourth navigational satellite in Sriharikota...

People watch the PSLV-C27 take off carrying India's fourth navigational satellite in Sriharikota...

A view of Vidhan Soudha which was powered off during the Earth hour in Bangalore...

A view of Vidhan Soudha which was powered off during the Earth hour in Bangalore...

Security persons recover articles after an encounter with the Maoists in Latehar...

Security persons recover articles after an encounter with the Maoists in Latehar...

Dancers perform during  procession to mark the Hindu festival of Ram Navami in New Delhi

Dancers perform during procession to mark the Hindu festival of Ram Navami in New Delhi

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523