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| Full text of joint statement of China, India |
| | www.chinaview.cn 2005-04-12 18:42:37 |
| VI. The two sides stressed that an all-round expansion of
China-India economic cooperation, including trade and investment, constitutes an
important dimension of a stronger China-India relationship. The two countries
agreed to make joint efforts to increase the bilateral trade volume to US$ 20
billion or higher by2008. The two sides welcomed the report of the Joint Study
Group (JSG) that was set up to examine the potential complementarities between
the two countries in expanded trade and economic cooperation. The JSG in its
Report has identified a series of measures related to trade in goods, trade in
services, in vestmentsand other areas of economic cooperation, and recommended
their expeditious implementation to remove impediments and facilitate enhanced
economic engagement between China and India. The two Prime Ministers tasked the
Ministerial-level China-India Joint Economic Group (JEG) to consider these
recommendations and coordinate their implementation. For this purpose, the two
sides will make their best endeavor to hold the next meeting of JEG within the
next six months. The JSG has also recommended a China-India Regional Trading
Arrangement, comprising of trade in goods and services, investments, identified
understandings for trade andinvestment promotion and facilitation, and measures
for promotion of economic cooperation in identified sectors. The Prime Ministers
agreed to appoint a Joint Task Force to study in detail the feasibility of, and
the benefits that may derive from, the China-India Regional Trading Arrangement
and give recommendations regarding its content. Both sides noted that the
Agreement on the Establishment of a Financial Dialogue Mechanism would further
facilitate the dynamic and diversifying economic cooperation between the two
sides. They will continue consultations on concluding the Bilateral Investment
Promotion and Protection Agreement. The two sides noted with satisfaction that
the two countries have signed the SPS Protocols for the export of grapes and
bitter gourd from India to China. The two sides also agreed to constitute a
Joint Working Group to implement expeditiously the MOU on Application of SPS
between the Chinese General Administration of Quality Supervision, Inspection
and Quarantine and the Indian Ministry of Agriculture. China positively
evaluates market access for Indian rice to the Chinese market and will launch as
early as possible the risk analysis procedure of the Indian rice in accordance
with relevant Chinese laws and regulations.
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