China will further economic ties with neighbors: minister

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Last updated at: (Beijing Time) Thursday, March 11, 2004

China will further economic ties with neighbors: minister

Chinese Minister of Commerce Bo Xilai said Wednesday in Beijing that China will further strengthen economic ties with neighboring countries and regions.

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Chinese Minister of Commerce Bo Xilai said Wednesday that China will further strengthen economic ties with neighboring countries and regions.

Bo made the remarks while meeting with guests from Pakistan, India, Japan and Hongkong.

The minister told Pakistan ambassador to China Riaz Mohammad Khan that bilateral trade witnessed a 35 percent annual growth to reach 2.5 billion US dollars last year, which is "encouraging" andhe hopes the two countries see more progress in economic and tradecooperation.

To enhance economic cooperation with China is Pakistan's "priority" and that is "good for us and good for the region", said Riaz.

The ambassador noted that about 60 Chinese enterprises have setup branches in Pakistan and were doing business in railway, dam-building and other infrastructure construction.

China and Pakistan could further cooperate in agriculture, mine,railway and water-control projects, Riaz said.

Bo told Indian ambassador Nalin Surie that Sino-Indian economicand trade cooperation had developed very quickly. The bilateral trade volume surged from 5 billion US dollars in 2002 to 7.5 billion US dollars last year.

Bo predicted that Sino-Indian trade could hit 10 billion US dollars this year.

On agricultural issue, the minister said, "China would enhance communication with India and other sides within the framework of the World Trade Organization."

The Indian ambassador has a more ambitious goal, saying bilateral trade could hit 20 billion US dollars by the end of thisdecade. He also noticed that India would diversify its exports to China, trying to sell more agricultural and handicrafts.

Bo also met guests from the Marubeni Cooperation of Japan and Kerry Holdings Limited of Hongkong.

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