Press Esc to close
Friday 27 February 2015
News updated at 8:44 PM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

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
A performance by the Gurkha Band of the British Army at the Queen's Birthday Party

A performance by the Gurkha Band of the British Army at the Queen's Birthday Party

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Foreign delegates pose for a group photo at Parliament House

Foreign delegates pose for a group photo at Parliament House

Swine Flu vaccination program at a school in Bikaner

Swine Flu vaccination program at a school in Bikaner

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Memebers in the Lok Sabha during the Budget session

Memebers in the Lok Sabha during the Budget session

Students march and light flares during the second day of student strike in Madrid, Spain...

Students march and light flares during the second day of student strike in Madrid, Spain...

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