Forum promotes Sino-India co-operation
( 2002-05-16 10:17 ) (1 )

China and India have mutual advantages which can be used to spur economic growth in various sectors, creating a win-win scenario for both.

Officials and business people of the two countries, meeting on Wednesday in Beijing, said bilateral trade has increased dramatically over the past decade from US$265 million in 1991 to US$3.6 billion last year.

"We all know that this is the tip of the iceberg and the potential that lies untapped is enormous," said Rajendra S. Lodha, president of the Federation of Indian Chambers of Commerce and Industry.

He said the "win-win partnership" could be established in such fields as agriculture, information technology (IT), infrastructure, chemicals and the services sector.

Lodha made the remarks on Wednesday in Beijing at the India-China Economic and Trade Forum, which was sponsored by the Beijing-based Guangming Daily, the Embassy of India to China, the China Council for the Promotion of International Trade as well as his own federation.

Indian Ambassador to China Shivshanker Menon hoped forum attendants could "get a clearer sense of where we can take India-China economic relations, of how we can realize their great potential, and what steps we should take to do so."

Dai Kexiang, vice-president of the China Council for Promotion of International Trade, said China and India enjoy many favourable conditions for developing economic and trade co-operation.

As the two most populous countries in the world, both have huge market potential, which is the primary basis for bilateral co-operation, said Dai.

The economic restructuring and opening-up drive of the two countries have resulted in steady economic growth in the two countries, according to Dai.

China and India are strongly complementary in natural resources, especially in coal, coke, ore as well as oceanic products, he added.