Xi And Modi Commit To Stronger Trade Ties
Since Friday evening, PM Modi and Mr Xi spent around five-and-half hours of one-on-one talks in multiple sessions.
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.
I thank President Xi Jinping for coming to India for our second Informal Summit. The #ChennaiConnect will add great momentum to India-China relations. This will benefit the people of our nations and the world. pic.twitter.com/mKDJ1g5OYO— Narendra Modi (@narendramodi) October 12, 2019
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.
Foreign Secy Vijay Gokhale: The two leaders today had a conversation for almost 90 minutes,followed by delegation level talks and then lunch was hosted by PM Modi. A total of 6 hours of one to one meeting was held between the two leaders during this summit. #Modixijinping pic.twitter.com/PfV1swubZN— ANI (@ANI) October 12, 2019
Foreign Secy Vijay Gokhale: A new mechanism will be established to discuss trade,investment and services,at an elevated level. From China it will be the Vice Premier, Hu Chunhua and from India it will be FM Nirmala Sitharaman pic.twitter.com/msz6pwgU2I— ANI (@ANI) October 12, 2019