China
Prime Minister Dr. Manmohan Singh meeting with the Premier of China, Mr. Wen Jiabao on the sidelines of 10th ASEAN- India Summit & 7th East Asia Summit in Phnom Penh (November 19, 2012)India attaches highest priority to its relations with China which is reflected today by regular exchanges at the highest level, sustained political dialogue on all outstanding issues, rapidly expanding economic relations and increasing cooperation on a growing number of regional and international issues.
India and China established a Strategic and Cooperative Partnership for Peace and Prosperity in 2005. Prime Minister Dr. Manmohan Singh has stated on several occasions that there is sufficient space in the world for the simultaneous development of India and China, as well as other developing nations. During the his maiden official visit to China in 2008 both countries issued "A Shared Vision for the 21st Century” which calls for enhancing bilateral cooperation to ensure comprehensive, balanced and sustainable economic and social development of the two countries and to promote peace and development in Asia and the world as a whole.
Senior leaders from both countries continue to meet regularly on the sidelines of multilateral events. In 2012 Prime Minister Dr. Singh met with President Hu Jintao on the sidelines of BRICS Summit (New Delhi) in March 2012 and at the G-20 Summit (Los Cabos) in June 2012 and more recently met with Premier Wen Jiabao on the sidelines of the 7th East Asia Summit in Phnom Penh in November 2012, and reviewed the entire gamut of bilateral relations.
India-China economic relations constitute an important element of the Strategic and Cooperative Partnership between the two countries. India-China bilateral trade which was as low as US$ 2.92 billion in 2000 reached US$ 61.7 billion in 2010, making China India’s largest trading partner in goods. Both countries have set the goal of reaching US$100 billion in bilateral trade by 2015. Several institutional mechanisms have been established for enhancing and strengthening economic cooperation between the two countries like the India-China Joint Economic Group on Economic Relations and Trade, Science and Technology (JEG), the India-China Strategic and Economic Dialogue (SED), and the Financial Dialogue. The 2nd India-China Strategic Economic Dialogue was held in New Delhi in November 2012.
India and China share a common position on a number of global issues and work together in the multilateral negotiations on Climate Change, Sustainable Development and Trade liberalization. India and China also closely cooperate within G-20 and the BRICS framework for democratization of the international financial structure. Recent years have also seen commencement of dialogues on regional subjects such as West Asia, Africa etc. As India-China relations mature and geopolitical significance of both countries rises, India looks forward to further expanding exchanges with China on the entire gamut of global issues.
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