'Indo-China bilateral trade to touch 20 bn dollars'

Bangalore, July 17 (UNI) Bilateral trade between the two Asian giants, India and China, will touch 20 billion US dollars this year, Mr Darong Zhu, Commercial Consul at the Consul General of China, Mumbai, said today.

Speaking at a promotional meeting of China International Silk Fair-2006, to be held at the East Coast city of Hang Zhou between October 26 and 30, he said trade between the two countries had touched 18.7 billion dollars last year, with a 37.4 per cent growth compared to the previous year and India having a trade surplus of 830 million dollars. Between January-May this year, trade had clocked 9.44 billion dollars, he added.

Mr Zhu said India was China's second biggest trading partner in South Asia. However, the economic cooperation was still small when compared to the scope of future growth in trade as the two countries complemented each other in several fields like software, hardware, pharma, tea, steel and plastic industries.

Inviting the Indian silk manufacturers to participate in the Silk Fair, he hoped that India's participation would impel development of the world of cocoon and silk industry in both nations.

Karnataka Sericulture Secretary Aravind Jannu said Bangalore was the focus point of silk industry in the country, which had made big strides using modern technology, though the silk fabric was still a domain of handloom. It had much to learn from China, which had mastered the art of silk fabric making for the past 5,000 years.

He said the Chinese delegation held a high-level meeting with the Karnataka Government officials towards improving bilateral ties, especially in the silk industry. Raw silk imports had been on the rise from China and this was being mainly used for exports.

The Silk Fair, hosted by the Ministry of Commerce of People's Republic of China and organised by National Cocoon Silk Coordination Office and Chinese Silk Association, was an annual affair. The previous six fairs were visited by over 10,000 silk businessmen from many countries and the turnover had touched five billion Yuan. Hang Zhou had become an important platform for new product presentation, new technical exchange, brand popularisation and trade negotiation.

Over 200 silk manufacturers were expected to participate in this year's event, which would showcase 10,000 new products including six series of silk garments and dress adornment, silk fabrics, silk home textiles, silk arts and crafts, silk technology of printing and dyeing.

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