Xi And Modi Commit To Stronger Trade Ties

by GoNews Desk 1 month ago Views 870
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Prime Minister Narendra Modi and Chinese President Xi Jinping concluded their two-day informal summit on Saturday at Mahabalipuram, about 50 km from Tamil Nadu’s capital Chennai.

The two leaders were engaged in an hour-long discussion at the Tango Hall in Taj Fisherman's Cove, a resort at Kovalam near Chennai.

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Since Friday evening, PM Modi and Mr Xi spent around five-and-half hours of one-on-one talks in multiple sessions.

Here are top updates on the PM Modi-Xi Jinping meet:

Prime Minister Narendra Modi said here that a new era of cooperation will begin on Saturday in Sino-India ties through the "Chennai connect".

"The Wuhan spirit had given a new momentum and trust to our ties. A new era of cooperation will begin today through the 'Chennai Connect'," PM Modi said at the delegation-level talks between the two countries.

Xi Jinping also expressed his desire to continue with informal summits in the future. Following the first informal summit in Wuhan in 2018 and the second summit at Mahabalipuram this year, he said that they had made the right decision in conducting these informal summits.

Indian Foreign Secretary Vijay Gokhale said the two leaders had detailed discussions on varied issues, including terrorism, increasing radicalisation, enhancing bilateral trade between the two nations and investments, among others.

He also revealed that the Chinese side has accepted there are concerns in the Regional Comprehensive Economic Partnership. The exact modalities to balance out trade concerns will be worked out later.

India, China agree to enhance people-to-people contact. It was decided that public of both countries must be brought in the relationship. Ideas were exchanged on this, Gokhale said.

China has proposed to set up a specific channel to address trade-specific concerns between the two countries. Chinese vice premier will remain in touch with finance minister Nirmala Sitharaman as part of a formal trade discussion channel, Gokhale said.