CHINA AND INDIA ARE PARTNERS FOR CO-OPERATION, NOT RIVALS IN COMPETITION, SAYS CHINESE PREMIER
By ANIThursday, December 16, 2010
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China and India are partners for co-operation, not rivals in competition, says Chinese Premier.
In a bid to soothe tensions between the two rivals India and China, Wen Jaiabao, the Chinese Premier says that China and India are partners for co-operation, not rivals in competition.
SHOWS:
NEW DELHI, INDIA (DECEMBER 15, 2010) (ANI-NO ACCESS BBC)
1. CHINESE PREMIER WEN JAIBAO SITTING ALONG WITH OTHER INDIAN OFFICIALS AT A BUSINESS SUMMIT IN NEW DELHI
2. WEN JAIABAO SITTING ALONG WITH ANAND SHARMA, INDIA’S FEDERAL MINISTER OF COMMERCE AND INDUSTRY AT THE SUMMIT
3. OTHER INDIAN AND CHINESE OFFICIALS AT THE CONFERENCE
4. MEDIA PERSONS AT THE PRESS CONFERENCE
5. MEDIA PERSONS CLICKING PHOTOGRAPHS
6. (SOUNDBITE) (Mandarin) WEN JAIABAO, CHINESE PREMIER, SAYING: “China and India are partners for co-operation, not rivals in competition. There is enough space in the world for the development of China and India, and there is enough area for us to cooperate. We both stand to gain from economic cooperation and trade.”
7. PHOTO JOURNALISTS AT THE SUMMIT
8. (SOUNDBITE) (Mandarin) WEN JAIABAO, CHINESE PREMIER, SAYING:”The fast economic growth between China and India has been an important engine for the world economy.”
9. MEDIA PERSONS AT THE PRESS CONFERENCE
10. (SOUNDBITE) (Mandarin) WEN JAIABAO, CHINESE PREMIER, SAYING: “I have brought with me an investment and trade promotion mission of over 300 businessmen. The mission is scheduled to sign economic and trade agreement worth more than 16 billion USD with Indian companies. China is ready to work with India, to increase the scale and expand the scope of our business cooperation and raise it to a higher level.”
11. PHOTO JOURNALISTS AT THE SUMMIT
12. (SOUNDBITE) (Mandarin) WEN JAIABAO, CHINESE PREMIER, SAYING: “China takes seriously the trade imbalance between our two countries and stands ready to take further measures to facilitate the access of Indian IT products, pharmaceuticals and agro products to the Chinese markets.”
13. CHINESE PREMIER WEN JAIBAO SITTING ALONG WITH OTHER INDIAN OFFICIALS AT THE SUMMIT
STORY: Chinese Premier Wen Jiabao, who arrived in India’s New Delhi on Wednesday (December 15), said that the world is big enough for both Asian giants - India and China - to prosper as partners, not competitors.
It must be mentioned that Jiabao’s visit is the first by a Chinese Premier in five years and he brings with him more than 400 business executives. The two countries, home to more than a third of the world’s population, fought a war in 1962 and relations remain uneasy despite their booming trade relationships and rising global clouts.
“China and India are partners for co-operation, not rivals in competition. There is enough space in the world for the development of China and India, and there is enough area for us to cooperate. We both stand to gain from economic cooperation and trade,” he said.
“The fast economic growth between China and India has been an important engine for the world economy,” he added.
Jiabao further announced that more Chinese investments in India to assuage the worries of Indian politicians peeved that the Sino-Indian trade balance is heavily in China’s favour.
However, Chinese companies will sign more than $16 billion worth of deals, Jiabao told business leaders at the India-China Business Cooperation Summit on the first day of his three-day visit to India.
“I have brought with me an investment and trade promotion mission of over 300 businessmen. The mission is scheduled to sign economic and trade agreement worth more than 16 billion USD with Indian companies. China is ready to work with India, to increase the scale and expand the scope of our business cooperation and raise it to a higher level,” said Jiabao.
He would discuss with his Indian counterpart Manmohan Singh on the ways to substantially increase trade volumes and may open up the Chinese economy to Indian IT, pharmaceutical and agricultural companies.
U.S., French and Chinese leaders have clinched deals worth almost $50 billion in total with India in the past few weeks.
China is India’s largest trade partner and bilateral flows are expected to hit $60 billion in this fiscal year ending in March 2011, though the trade is skewed heavily in China’s favour, Jiabao was speaking on a visit to the Indian capital.
Further he declared that China may give greater access to India’s IT, pharmaceutical and agricultural industries.
“China takes seriously the trade imbalance between our two countries and stands ready to take further measures to facilitate the access of Indian IT products, pharmaceuticals and agro products to the Chinese markets,” he said.
Analysts said that India’s deficit with China could reach $24-25 billion this year. The deficit rose to $16 billion in 2007-08, from $1 billion in 2001-02, according to Indian customs data.
India has sought to diversify its trade basket, but raw materials and other low-end commodities such as iron ore still make up about 60 percent of its exports to China.
Still, total investment by China in India is small, amounting to only $221 million in 2009, representing only about 0.1 percent of China’s total outward foreign direct investment stock in that year.
However, both have stood together to resist Western demands in world trade and climate change talks, but they have also clashed over China’s close relationship with Pakistan, fears of Chinese spying and a longstanding border dispute.
