Press Esc to close
Friday 01 August 2014
News updated at 3:19 AM IST
Weather
Max: 28.4°C
Min : 20.2°C
In Bangalore
Generally cloudy

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
Vikas Shive Gowda of India throws the discus in the men's discus final...

Vikas Shive Gowda of India throws the discus in the men's discus final...

Babita Kumari of India holds up her gold medal as she poses for photographs...

Babita Kumari of India holds up her gold medal as she poses for photographs...

A diver is seen underwater during a practice session at the 2014 Commonwealth Games...

A diver is seen underwater during a practice session at the 2014 Commonwealth Games...

Palestinian firefighters inspects the damage of a destroyed milk factory...

Palestinian firefighters inspects the damage of a destroyed milk factory...

NDRF personnel with a body of a victim of landslide at Malin village...

NDRF personnel with a body of a victim of landslide at Malin village...

Abhisekh Bachchan with singer Usha Utthup cheers his team during Pro Kabaddi League match...

Abhisekh Bachchan with singer Usha Utthup cheers his team during Pro Kabaddi League match...

South Africa's Rhett Halkett in action against India's Chandanda Nikkin in CWG 2014...

South Africa's Rhett Halkett in action against India's Chandanda Nikkin in CWG 2014...

Abhisekh Bachchan greets his team players after Pro Kabadi League match win against Telugu Titans...

Abhisekh Bachchan greets his team players after Pro Kabadi League match win against Telugu Titans...

India's Yogeshwar Dutt celebrates after winning the Gold Medal in CWG 2014...

India's Yogeshwar Dutt celebrates after winning the Gold Medal in CWG 2014...

India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

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