China-India trade could touch $10 bn: minister

Thursday, 11 March 2004, 20:30 IST
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BEIJING: Trade between China and India could surge to $10 billion this year as Beijing is keen on further strengthening economic ties with neighbouring countries and regions, Commerce Minister Bo Xilai said Wednesday. Bo told Indian ambassador Nalin Surie that Sino-Indian economic and trade cooperation had developed very quickly, with bilateral trade increasing from $5 billion in 2002 to $7.5 billion last year, Xinhua reports. On agricultural issues, he said, "China would enhance communication with India and other sides within the framework of the World Trade Organisation." The Indian ambassador had a more ambitious goal, saying bilateral trade could hit $20 billion by the end of this decade. He also noted that India would diversify its exports to China to sell more agricultural products and handicrafts. Bo also told Pakistan's ambassador to China, Riaz Mohammad Khan, that bilateral trade had witnessed a 35 percent annual growth to reach $2.5 billion last year, which was "encouraging". To enhance economic cooperation with China was Pakistan's "priority" and that was "good for us and good for the region", said Khan. He noted that about 60 Chinese enterprises had set up branches in Pakistan and were doing business in railway, dam-building and other infrastructure construction. China and Pakistan could further cooperate in agriculture, mining, railway and water-control projects, Khan said. Bo also met guests from the Marubeni Cooperation of Japan and Kerry Holdings Limited of Hong Kong.
Source: IANS
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