Press Esc to close
Friday 31 October 2014
News updated at 10:21 AM IST
Weather
Max: 28.4°C
Min : 18°C
In Bangalore
Partially cloudy

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
Security personnel patrol a street after a protest by the supporters of Jammu and Kashmir...

Security personnel patrol a street after a protest by the supporters of Jammu and Kashmir...

India A players Rohit Sharma and Manish Pandey during a practice match against Sri Lanka...

India A players Rohit Sharma and Manish Pandey during a practice match against Sri Lanka...

Indian Air Force officers arrive at the Gateway of India after swimming for a distance...

Indian Air Force officers arrive at the Gateway of India after swimming for a distance...

The Navy hovercraft carrying West Bengal Chief Minister Mamata Banerjee to Sagar Island...

The Navy hovercraft carrying West Bengal Chief Minister Mamata Banerjee to Sagar Island...

A Rajasthani herder with his cows in Gurgaon...

A Rajasthani herder with his cows in Gurgaon...

Devotees wait for the Sun to offer prayers, during Chhath Puja festival in Agra...

Devotees wait for the Sun to offer prayers, during Chhath Puja festival in Agra...

Sand artist Sudarsan Pattnaik creates a sand sculpture on Black Money with a message...

Sand artist Sudarsan Pattnaik creates a sand sculpture on Black Money with a message...

BJP workers arrange the cut-outs of party symbol (lotus) to decorate the boats at the Marine...

BJP workers arrange the cut-outs of party symbol (lotus) to decorate the boats at the Marine...

A police man investigates the tunnel dug up by the robbers in Gohana bank heist, in Sonipat...

A police man investigates the tunnel dug up by the robbers in Gohana bank heist, in Sonipat...

Bollywood megastar Amitabh Bachchan sweeps in a stree during a cleanliness drive as a part...

Bollywood megastar Amitabh Bachchan sweeps in a stree during a cleanliness drive as a part...

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