Indo-China trade to reach USD 40 billion by 2010

Kolkata, Jul 25 (UNI) With the improving relation between India and China, the bilateral trade is increasing rapidly targetting a total trade of USD 40 billion by 2010.

Talking to UNI on the sidelines of a seminar here today, Fudan University (China) Assistant Dean Yiwei Wang said at present the total business is about USD 17 billion which is poised to increase USD 26 billion by next year.

'' The economic prospects are very high and our Prime Minister is also emphasising on business perspective. Talks are on to improve this,'' he said.

Prof Wang, who is also a member of the Communist party of China, said both the countries should cooperate with each other in areas like Information Technology, outsourcing and software development.

He also suggested India to join Shanghai Economic Organisation (SEO) as a permanent and active member to strengthen the economic cooperation among other developing Asian countries.

Currently, India is having the status of an Observer in the SEO.

Stressing on China's relation with India, Prof Wang said,''We want good relation with India but not at the cost of our relation with Pakistan.'' The Chinese representative, who was here for a day along with India's former foreign secretary M K Rasgotra, said they would soon be setting up a Chinese institute here to provide training facilities to corporates and businessmen, who want to pursue their career in China.

''We will meet the West Bengal Chief Minister today and finalise the project. We have demanded one acre of land near Rajarhat so that the construction work could start by this year,'' Mr Rasgotra said.

Asked about China's claim over a part of Arunachal Pradesh that had created tension between the two countries, Prof Wang said negotiations were on and hoped that the problem would soon be solved.

China had been claiming Tawang, in Arunachal, as a part of its territory since long as it is the birth place of the sixth Dalai Lama.

UNI