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| China, India aim to double trade volume |
| CCTV.COM 2003-06-26 08:06:15 |
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China and India should aim to double their bilateral trade volume to 10 billion US dollars by 2005. Chinese Minister of Commerce Lv Fuyuan has outlined the goal in Beijing during a meeting with his Indian counterpart Arun Jaitley.
As the two most populous and largest developing countries, the Chinese minister said that China and India have great potential to expand their trade and economic cooperation.
China and India have signed a number of trade cooperation agreements this week during Indian Prime Minister Atal Bihari Vajpayee's visit to China.
Lv said the two sides are now working on plans to implement these agreements. He added that any proposal from the Indian side would have the active support of China so long as it was conducive to the expansion of trade and economic cooperation.
Two－way trade between China and India reached nearly five billion US dollars last year, up 37.6 percent from a year ago. From January to May this year, bilateral trade grew 70 percent to 2.9 billion US dollars, with China importing 1.68 billion dollars worth of Indian goods and exporting 1.22 billion dollars of goods to India.
Jaitley proposed that the joint economic group between India and China should hold meetings as soon as possible to explore ways to boost trade and cooperation. He said India and China, as two important developing members of the WTO, shared many similarities and could cooperate well on many issues.
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Editor: Yang Feiyang CCTV.com
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