The relations between India and China are improving fast amid growing trade ties between the two countries, a top Chinese Embassy official said. Addressing a One-Day International Seminar on ‘BRICS and the New World Economic Order’ here today, Minister-Counsellor and Deputy Chief of Mission (DCM) Embassy of China, Deng Xijun said the trade volume between the two countries had increased more than ten times in the past 11 years. ‘Last year, the bilateral trade between the two countries had reached new heights, despite the global economic and financial crisis,’ he said.
Mr Xijun said both the nations have maintained close consultation and coordination in the UN, WTO, G-20 and BRICS and on many major international and regional issues, such as the global financial and economic crisis, climate change, food and energy security, anti-terrorism as well as issues related to the situation in West Asia and North Africa. The two-way trade reached 74 billion dollars in 2011 and China has become one of the largest trade partners of India and vice versa, he said. ‘In 2010, both the sides agreed to set a new target of 100 billion dollars for bilateral trade by the year 2015. People-to-people and cultural exchanges had become a new highlight of bilateral relations. The two countries organised China Festival in India and Indian Festival in China,’ he added. ‘High level of interactions have maintained a strong momentum and the leaders of two countries have maintained frequent exchange of visits over the past few years,’ Mr Xijun said. ‘China and India are enjoying growing convergence of interests and are committed to the building of a fair, just and reasonable international economic, financial and trade order,’ he added. UNI