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India, China trade to be $40 Bn by 2010
Tuesday, 06 November 2007, 20:30 IST
New Delhi: India and China are poised to achieve bilateral trade of up to $40 billion (
1.6 trillion) by 2010, Chinese ambassador Sun Yuxi said here Tuesday.
"China and India's bilateral relations witnessed all round development three years ago. In 2004, our trade was less than $14 billion but now till the end of October, trade has gone up to $27 billion," Yuxi told a conference organised by the Federation of Indian Export Organisations (FIEO).
"This year we will well be crossing $30 billion and our target for 2010 is $40 billion, which is three years away. If we grow in this way, personally I think we can aim for $50 billion by 2010," he added.
He also said that both countries are currently negotiating a trade agreement.
"We are working on something what is called a regional trade agreement, which is on similar terms as a free trade agreement," he said.
"Our trade is developing very fast, faster than expected by our respective governments," Yuxi said, adding that both countries have become partners in economic development.
Source: IANS
1.6 trillion) by 2010, Chinese ambassador Sun Yuxi said here Tuesday.
"China and India's bilateral relations witnessed all round development three years ago. In 2004, our trade was less than $14 billion but now till the end of October, trade has gone up to $27 billion," Yuxi told a conference organised by the Federation of Indian Export Organisations (FIEO).
"This year we will well be crossing $30 billion and our target for 2010 is $40 billion, which is three years away. If we grow in this way, personally I think we can aim for $50 billion by 2010," he added.
He also said that both countries are currently negotiating a trade agreement.
"We are working on something what is called a regional trade agreement, which is on similar terms as a free trade agreement," he said.
"Our trade is developing very fast, faster than expected by our respective governments," Yuxi said, adding that both countries have become partners in economic development.
Source: IANS