Sino-India mechanism to boost trade, investment
| Date :13-Oct-2019 |
MAMALLAPURAM:
INDIA and China on Saturday resolved to start a new chapter of cooperation while prudently managing their differences, as Prime Minister Narendra Modi and Chinese President Xi Jinping discussed several key issues, including ways to enhance trade and investment and confidence building measures, during their nearly seven-hour one-on-one talks spread over two days in this ancient coastal town. The significant outcome of the second Modi-Xi informal summit included setting up of a new high-level mechanism to boost trade and investment, China’s assurance to address India’s concerns in negotiations for the proposed Regional Comprehensive Economic Partnership, security cooperation and additional confidence building measures to maintain peace on border.
Foreign Secretary Vijay Gokhale, addressing a press conference at the end of the summit, said the Kashmir issue was not raised or discussed during the deliberations, but said the Chinese leader briefed Modi about Pakistan Prime Minister Imran Khan’s visit to Beijing earlier in the week. “The two leaders had an in-depth exchange of views in a friendly atmosphere on overarching, long-term and strategic issues of global and regional importance,” Gokhale said, at the end of Xi’s nearly 24-hour visit. President Xi invited Modi to visit China for the third informal summit and Modi has accepted the invitation. Giving an account of outcome of the summit, Gokhale said the two leaders were concerned that terrorism continues to pose a common threat.
They recognised the importance of continued joint efforts to ensure that the international community strengthens the framework against training, financing and supporting terrorist groups throughout the world and on a non-discriminatory basis. On the vexed boundary issue, Gokhale said both sides will continue to work on additional confidence building measures to enhance peace and tranquillity along the border. Asked whether cross-border terrorism was discussed in the meeting, the Foreign Secretary only said that India-China ties are not a one-issue relationship.
The two leaders have also decided to establish a high-level economic and trade dialogue mechanism with the objective of achieving enhanced trade and commercial relations, as well as to better balance the trade between the two countries, he said. They have also agreed to encourage mutual investments in identified sectors through the development of a manufacturing partnership and tasked their officials to develop the idea at the first meeting of the new dialogue mechanism, the foreign secretary said. Gokhale said Modi and Xi evaluated the direction of bilateral relations in a positive light and discussed how India-China interaction can be deepened to reflect the growing role of both countries on the global stage. “Both leaders shared the view that the international situation is witnessing significant readjustment. They were of the view that India and China share the common objective of working for a peaceful, secure and prosperous world in which all countries can pursue their development within a rules-based international order,” said a press release featuring 16 important outcomes. Sources said the Indian and Chinese sides exchanged the texts of their release before issuing them.
The two leaders reiterated the consensus reached during the first Informal Summit in Wuhan that India and China are factors for stability in the current international landscape and that both side will prudently manage their differences and not allow differences on any issue to become disputes, the release said. Gokhale said Modi and Xi recognised that India and China have a common interest in preserving and advancing a rules-based and inclusive international order, including through reforms that reflect the new realities of the 21st century. “Both agreed that it is important to support and strengthen the rules-based multilateral trading system at a time when globally agreed trade practices and norms are being selectively questioned. India and China will continue to work together for open and inclusive trade arrangements that will benefit all countries,” he said.
He said the two leaders exchanged views on outstanding issues, including on the boundary question and welcomed the work of the Special Representatives engaged in negotiations on the issue. Meanwhile, the Indian embassy in Beijing has announced a five-year tourist e-visa with multiple entry facility for Chinese travellers, coinciding with President Xi’s visit. “It is anticipated that this unilateral liberalisation of e-TV for Chinese nationals will further enhance people-to-people exchanges between the two countries and encourage more Chinese tourists to choose India as a destination for tourism purposes,” the embassy said in a press release.