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| More room for Sino－Indian trade cooperation |
| CCTV.COM 2003-06-25 10:06:30 |
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A delegation of Indian businessmen, headed by the Indian Prime Minister, met their Chinese counterparts in Beijing early Tuesday afternoon. Both parties were looking forward to tapping the great business potential between China and India.
The promotion of bilateral economic and trade relations has been one of the highlights of the Indian Prime Minister's official visit to China. For historical reasons, there has been no mutual investment in the past. By the end of last year, only 71 Indian enterprises had invested in China. And the number of Chinese companies invested in India is even fewer. The investment of the 15 Chinese businesses there totaled only 37 million US dollars.
But the two big countries boast many advantages for each other to take advantage of.
Tarun Das, chairman of The Associated Cement Companies Ltd., said, "...lots of people, good labor, skillful people, and raw material. So both economies are large and there's space for each economy for the other."
Many Indian businesspeople say they are impressed by China's economic strength and its fast pace of economic development. And some are targeting the commercial potential of the 2008 Olympics to be held in Beijing.
R.K. Somany, chairman of Hindustan Sanitaryware & Industries Ltd., said, "We are looking forward .....because of the 2008 Olympics...to import and also add to our line of production."
Businesspeople from both countries agree that China and India can complement each other in many sectors. Because of different economic structures, each side has its own strength and priorities. They agree that trade complementarity is the best business approach for the two neighbors.
This Chinese businessman hoped to further open up channels to export China's fibre material to India's fast－developing textile market.
"There's great potential for China and India to complement each other with their own trade specialities. We hope that we can further access the Indian market and enlarge trade in the textile sector," said Chen Yulin, president of Xinxiang Chemical Fibre Co., Ltd..
Though the trade volume between the two Asian giants was only five billion US dollars last year, it is optimistically expected the figure will be doubled in two years' time.
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Editor: Xiao Wei CCTV.com
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