India and China have decided to step up efforts to address trade-related issues, with President Xi Jinping telling Prime Minister Narendra Modi the two countries must add \u201cnew growth points\u201d in sectors such as medicine and infrastructure.<\/p>\n\n\n\n
During a meeting on the margins of the BRICS Summit in Brasilia on Wednesday, Xi said China welcomes the import of \u201chigh quality\u201d goods from India. The two leaders agreed on the importance of a close dialogue on trade and investment, India\u2019s external affairs ministry said in a statement.<\/p>\n\n\n\n
India-China relations were jolted earlier this year by Beijing\u2019s strong support for Islamabad after New Delhi\u2019s August 5 decision to revoke Jammu and Kashmir\u2019s special status and reorganise the state into two union territories. China also opposed the creation of the Union Territory of Ladakh.<\/p>\n\n\n\n
However, the two sides set aside the Kashmir issue at the second informal summit and focused on improving trade ties. These efforts were followed up by the two leaders during their meeting in Brasilia, the third time they have met this year.<\/p>\n\n\n\n
On the state of bilateral ties, Xi said he \u201cis willing to maintain close communication with Modi to jointly steer the direction of China-India relations, increase political mutual trust, properly manage differences and expand practical cooperation so as to guide a better and more stable development of bilateral ties\u201d.<\/p>\n\n\n\n
Modi and Xi agreed the new High Level Mechanism on Trade and Economy \u201cshould meet at an early date\u201d, the statement said. The mechanism, to be led by finance minister Nirmala Sitharaman and Chinese vice premier Hu Chunhua, was created when the two leaders held their second informal summit at Mamallapuram near Chennai last month.<\/p>\n\n\n\n
\u201cChina welcomes India\u2019s active increase in exports of high quality goods to China. The two sides should expand the scale of two-way trade and investment and create new growth points in production capacity, medicine, information technology and infrastructure construction,\u201d Xi said.<\/p>\n\n\n\n
A Chinese foreign ministry statement quoted Modi as telling Xi that the trust and the friendship between them have been strengthened and many important consensuses reached by them are being implemented. It also quoted Modi as saying that India is ready to expand trade and investment and enhance cooperation in energy and other fields.<\/p>\n\n\n\n
Modi and Xi noted the Special Representatives handling the boundary dispute will have another meeting and \u201creiterated the importance of maintaining peace and security in the border areas\u201d, the external affairs ministry said. It could not immediately be ascertained when the meeting will be held.<\/p>\n\n\n\n
The meeting in Brasilia took place against the backdrop of India deciding not to join the China-backed Regional Comprehensive Economic Partnership trade deal comprising the 10 members of Asean and the grouping\u2019s dialogue partners. India attributed its decision to unresolved \u201ccore concerns\u201d, with New Delhi saying the deal would have adversely impact the livelihoods of all Indians.<\/p>\n","protected":false},"excerpt":{"rendered":"
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