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National News

Oct 12, 2019
8:58PM

India, China agree to set up new mechanism to address issues related to trade and services

PIB
India and China have reiterated that both the countries play an important role in ensuring stability in the current international landscape. They also reiterated that both sides will prudently manage their differences without allowing differences on any issue to become disputes.

In the second informal summit between Prime Minister Narendra Modi and Chinese President Xi Jinping at the ancient port town of Mamallapuram near Chennai, that concluded today, the two leaders had an in-depth exchange of views in a friendly atmosphere on a variety of subjects. 

They included topics on overarching, long-term and strategic issues of global and regional importance, that are necessary for a rule-based international order. The two leaders discussed how the bilateral interactions can be deepened to reflect the growing role of both countries on the global stage as international situation is witnessing significant readjustment.

On the concluding day of the summit, both the leaders had a one on one conversation for about an hour and a half this morning in the serene atmosphere of the Pallava era coastal town, followed by the delegation-level talks between the two sides.

In his opening address at the delegation-level talks, Prime Minister Narendra Modi said, the Wuhan Spirit has provided a new momentum and trust between the two nations, adding, the Chennai Vision as witnessed today has resulted in a new era of cooperation. Referring to the outcome of the Wuhan Summit, he said strategic communication has increased between the two countries, leading to an enhanced stability and a fresh momentum in bilateral ties. The Prime Minister said that, in the Wuhan Summit, both the countries decided not to allow any differences to become disputes and be prudently managed. He said, the Chennai Connect will herald a new era of bilateral cooperation.

Mr Modi mentioned that since ancient times, India and China have been major economic powers in the world. He said both the countries are now regaining the prominent position.

President Xi Jinping said, he is overwhelmed by the warm reception given to him by Tamil Nadu government and its people and government of India, describing it as a memorable one. 

At the end of the talks, both the leaders saw a live demonstration of weaving silk sarees and visited a handicrafts exhibition. Prime Minister Modi presented a specially woven shawl to President Xi Jinping, depicting the portrait of the visitor. President Xi presented a return gift.

Briefing media at Mamallapuram, Foreign Secretary Vijay Gokhale said both the leaders engaged themselves in one on one interactions for over six hours. The Foreign Secretary said China has expressed its willingness to address India’s concerns on trade and agreed to look at ways to improve it in terms of volume and values. Both the leaders also agreed on the importance of concluding negotiations for a mutually-beneficial and balanced Regional Comprehensive Economic Partnership with a proper place for trade in services. President Xi welcomed the presence of Indian Information Technology (IT) and pharma companies.

Both the leaders have decided to establish a High-Level Economic and Trade Dialogue mechanism to better balance trade between the two countries. They have also agreed to encourage mutual investments in identified sectors through the development of a Manufacturing Partnership and also announced a High-Level Economic and Trade Dialogue for this.

Mr. Gokhale categorically said the Kashmir question has never been raised in the meeting because it is India’s internal matter. He said both the leaders are concerned that terrorism continues to pose a common threat and it is important to urge the international community to strengthen the framework against training, financing and supporting terrorist groups throughout the world and on a non-discriminatory basis. They also agreed for enhanced engagement between both the armed forces to enhance mutual trust.

They welcomed the work of the Special Representatives to find a permanent solution to border issue and reiterated that both sides will continue to work on additional Confidence Building Measures in this direction.

A government press release said that both the leaders advocated advancing a rules-based and inclusive international order, including through reforms that reflect the new realities of the 21st Century. They advocated for open and inclusive rule based multilateral trade arrangements that will benefit all countries.

Both the leaders also shared their respective approaches towards national development. They emphasised that efforts being made in their respective countries to address global developmental challenges, including climate change and the Sustainable Development Goals would help the international community achieve the targets.

Appreciating the age-old commercial and people-to-people contacts between India and China, the two leaders agreed on establishment of sister-state relations between Tamil Nadu and Fujian Province, exploring the possibility of establishing an academy to study links between Mahabalipuram and Fujian province.

The two leaders have decided to designate 2020 as Year of India-China Cultural and People to People Exchanges. Both countries will organize 70 activities to celebrate this. 
 

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