Mizzima: India-China bilateral trad

[mizzima@xxxxxxxxxxxxxxxx]

India-China bilateral trade to cross US $ 2.5 billion end of 2000

New Delhi, December 7, 2000
Mizzima News Group (www.mizzima.com)

With modest investments and joint ventures projects already started in
the two countries, the Sino-Indian bilateral trade volume is likely to
cross US$2.5 billion by the end of this year, according to Mr. Nalin
Suri, Joint Secretary, Ministry of External Affairs, Government of
India. Mr. Suri was addressing the seminar on 'Prospects of Sino-India
Economic and Trade Cooperation in the 21st century' organized by the
Confederation of Indian Industry (CII) in New Delhi. The seminar was
held on the occasion of China Engineering and Commodities Fair held in
Delhi.

According to Mr. Nalin Suri, a few Indian companies such as NIIT,
APTECH, Ranbaxy, Essel Packing, Dr. Reddy's Lab & Orind Refractory are
already operating in China while Chinese investment in India was seen in
ferro alloys, chemicals, consumer electronics, metallurgical sector,
mini-blast furnaces and the Information technology sector.

Mr. Suri said that while the Foreign Direct Investments in India have
been simplified and made more transparent, immense opportunities have
emerged for trade with India. With India progressing in the Information
Technology sector and China having made similar progress in the hardware
sector, good business prospects were seen in collaborating in
knowledge-based industries.

Mr. Wu Xilin, Head of the Chinese Delegation and Director-General of the
Department of Foreign economic Cooperation of the Ministry of Foreign
Trade & Economic Cooperation (Moftec) in his address highlighted the
need to promote mutual understanding and strengthen the cooperation to
facilitate bilateral trade development.

Ms. Zhar Wen, of Jiangsy Chunln Import & Export Corporation Ltd of China
said that with the China's entry into the WTO, especially in the
background of world economical integrative, the cooperation and
development between both the countries need to increase.