Chinese industry seeks closer cooperation with India

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New Delhi, Jan 7 (UNI) Ahead of Prime Minister Manmohan Singh's three-day visit to China from January 13-15, Chinese industry today sought more trade and investment ties with India and invited Indian entrepreneurs to participate in the prestigious 14th Yiwu International Commodities Fair (CYICF) in October.

''This platform could emerge as a two-way traffic for growth of industry in both countries. Chinese industrialists, after tapping markets in the US and the European Union, are now looking towards India in view of its booming economy,'' said Ms Chen Xiuxian, Director General of the CYICF.

Speaking to UNI on the sidelines of a CYICF Promotional Conference here, Ms Chen said industry in India and China have more potential and space for growth and this was bound to increase.

Earlier in her address at the conference, she said India had a ''high reputation'' in Yiwu and Yiwu's huge market had attracted a number of Indian businessmen to carve out their own business.

A total of 30 representative offices have been set up in Yiwu by Indian enterprises.

A statement issued at the Conference said India tops the list in China's chart of major commercial hubs in the world, while trade volume between India and Yiwu crossed 26 million dollars.

She said the percentage of Indian businessmen visiting Yiwu had registered a phenomenal increase last year and this platform (CYICF) could be used by Indian entrepreneurs to increase Sino-Indian trade ties.

The three-day Commodity Fair at Yiwu in Southeastern China from October 22-26, will have 14 and nine exhibition sections.

The Fair is held every year from October 22-26 since 1995 and has become a green channel for Chinese businessmen to grab market-shares home and abroad.

Approved by the State Council of the People's Republic of China, the Fair, sponsored by the Chinese Commerce Ministry and Zhejiang Provincial People's government, is an international exhibition of daily consumer goods.

UNI RB SBA RS1533

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