'Indo-China trade to grow to $50 bn in 3-4 yrs'

New Delhi, May 12: There is great potential to boost bilateral trade between India and China, from the present level of 19 billion dollars to 50 billion dollars in the next three to four years.

''There exists real potential to boost bilateral trade from the present level of 19 billion dollars to 50 billion dollars in the next three to four years,'' China Council for the Promotion of International Trade (CCPIT) Vice Chairman Yu Ping said while launching the new trade portal -- www.ficci-ccpit.com. here.

Bilateral trade between India and China has increased significantly in the last decade, he said. However, the CCPIT and FICCI needed to make strenuous efforts to make their respective governments create a conducive macro economic environment for the smooth conduct of business.

He advised the two chambers to focus on giving technical support, enhance capacity building of member companies and help improve their competitiveness.

Mr Ping formally inaugurated the portal at an interactive meeting with a delegation of CCPIT led by him.

''The official opening of the FICCI-CCPIT trade portal marks a major step towards the achievement of these objectives,'' he said.

The portal is set to boost India-China Business-to-Business exchange as it gives comprehensive information on export and import trends and developments, links to websites on businesses in the Indian and Chinese economy, and upcoming trade fairs and exhibitions to facilitate participation in these events.

FICCI Secretary General Amit Mitra described the interaction as a preparatory meeting to the summit meet of the India-China CEOs Forum to be held in November later this year. The meet will coincide with the visit of the Chinese Premier to India.

The two chambers, he said, were laying the building blocks for partnerships between the business enterprises of the two Asian giants.

UNI