Press Esc to close
Tuesday 02 September 2014
News updated at 2:32 AM IST
Weather
Max: 27.4°C
Min : 19.4°C
In Bangalore
Sunny day

PM, Wen discuss trade imbalance

Phnom Penh, Nov 19, 2012 (PTI)

Singh invites Chinese investment in infra sector

Prime Minister Manmohan Singh on Monday invited Chinese investments in the infrastructure sector while conveying India’s concerns over trade imbalance to his counterpart Wen Jiabao, who said this could be addressed “gradually.”

India and China will be holding the second Strategic Economic Dialogue (SED) in Delhi later this month with an aim of enhancing business engagement between the two of the fastest growing economies.

After the SED, a date will be decided for the next round of talks between Special Representatives of the two countries on boundary and other issues, to be held in China shortly.


At the 40-minute meeting here on the sidelines of ASEAN Summit, the two leaders discussed a wide range of subjects including economic cooperation, boundary issue, defence, maritime security, besides international matters.

Both the leaders agreed that there is enough space for both India and China to develop while expanding cooperation between them. Wen said this was the guiding principle of his country’s approach towards India.

“The economic engagement was given a great deal of importance by the Prime Minister in his remarks,” Foreign Secretary Ranjan Mathai told journalists while briefing on the “fruitful and detailed” meeting, the 15th between the two leaders during the last eight years.

Singh emphasised that he was committed to working for realisation of “full potential” of economic cooperation between the two countries, Mathai said.

Singh referred to Indian exports and “emphasised the need for greater market access for Indian exports particularly in areas like services, IT and pharma,” Mathai said.

“The Prime Minister also welcomed Chinese investment in infrastructure sector which he said would help create employment and help bridging trade deficit between the two countries,” he said.

Wen responded by saying he was, “looking forward to gradual balancing of trade and they (China) were cognizant of India’s particular interest in these areas.”  India has been concerned over the expanding trade imbalance which is in favour of China and now stands at $ 23 billion.

Singh noted that the two countries will be having Strategic Economic Dialogue in the end of November.

This will be led by Deputy Chairman Planning Commission on the Indian side and the head of the National Development Commission from Chinese side and subjects to be covered would include cooperation in various sectors like energy.

Go to Top

Photo Gallery
President Pranab Mukherjee grants degree to a student at the 14th convocation of the University...

President Pranab Mukherjee grants degree to a student at the 14th convocation of the University...

Fireworks on the occasion of 410th installation anniversary of Sri Guru Granth Sahib, the holy...

Fireworks on the occasion of 410th installation anniversary of Sri Guru Granth Sahib, the holy...

Left Front activists take part in a rally to observe anti-imperialist day in Kolkata on...

Left Front activists take part in a rally to observe anti-imperialist day in Kolkata on...

Flood water flows through Srisailam dam after its four crest gates were opened in Kurnool on...

Flood water flows through Srisailam dam after its four crest gates were opened in Kurnool on...

BJP president Amit Shah during a visit to Sree Padmanabhaswamy temple in Thiruvananthapuram on...

BJP president Amit Shah during a visit to Sree Padmanabhaswamy temple in Thiruvananthapuram on...

Prime Minister Narendra Modi shakes hands with Japanese Minister of Foreign Affairs Fumio...

Prime Minister Narendra Modi shakes hands with Japanese Minister of Foreign Affairs Fumio...

Actress & BJP MP from Chandigarh Kirron Kher speaks during a seminar on...

Actress & BJP MP from Chandigarh Kirron Kher speaks during a seminar on...

Prime Minister Narendra Modi and Japan's Prime Minister Shinzo Abe makes a toast during a banquet...

Prime Minister Narendra Modi and Japan's Prime Minister Shinzo Abe makes a toast during a banquet...

Congress president Sonia Gandhi prays in a temple during a visit to her constituency Rae Bareli...

Congress president Sonia Gandhi prays in a temple during a visit to her constituency Rae Bareli...

Congress president Sonia Gandhi in a village hut during a visit to her constituency Rae Bareli on...

Congress president Sonia Gandhi in a village hut during a visit to her constituency Rae Bareli on...

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