The
current level of bilateral trade between the two countries is incompatible to
their respective sizes, but has scope of growth by improving trade structure and
increasing technological cooperation.
The
recent visit of the Chinese President Hu Jintao symbolizes his country's keen
interest to advance the bilateral relations with India. This is because, in the
milieu of increasing competition in the global environment, India has been complementing
money-spinning resources such as knowledge and raw material that would benefit
China to become stronger. The dramatic growth in Indo-China trade in recent years
is also one of the reasons for further strengthening of bilateral economic relations.
Hu considers that China and India share broad common interests both in the bilateral
as well as international dimensions. Quite assertively he said, "Both China
and India are confident of our future relationship and are willing to work together
to facilitate all around and in-depth development of strategic and cooperative
partnership", at a press conference in New Delhi. India's Prime Minister,
for his part, asserted, "As two larger Asian states and as two of the fastest
growing emerging economies of the world, cooperation between India and China transcends
the bilateral and has global significance. The nature and range of agreements
signed today point to the consolidation and diversification of bilateral relations."
Encouraged by their economies' super growth rate, the two nations foresee a target
of $40 bn by 2010, which is likely to touch $20 bn mark in 2006.
On
the flipside, however, the prospect of bilateral trade is booming, the prolonging
mutual mistrust raises apprehensions and will be hard to overcome the deep-seated
Indian suspicions on China. Nonetheless, on a positive welcome note, APJ Abdul
Kalam, President of India, stated, "The regional and global perspective of
our ties further necessitates that we take a long-term and strategic view of our
relationship. We need to add more substance and meaning to our strategic relationship". |
