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China, India pledge closer cooperation in joint statement


08:47, May 21, 2013

NEW DELHI, May 20 (Xinhua) -- China and India issued a joint statement Monday highlighting their commitment to expanding common ground in bilateral cooperation and coordination in various fields.

The statement, released during Chinese Premier Li Keqiang's ongoing visit here, said the two Asian giants have a historic opportunity for economic and social development and the realization of this goal will advance peace and prosperity in Asia and the world at large.

Over the years, China and India have evolved an effective model of friendly coexistence and common development, which can be an example for relations between big, neighboring countries, the statement said.

"The two sides welcome each other's peaceful development and regard it as a mutually reinforcing process," said the document. "There is enough space in the world for the development of China and India, and the world needs the common development of both countries."

The two countries, added the statement, hold that the right of each country to choose its own path of social, economic and political development in which fundamental human rights and the rule of law are given their due place should be respected.

Recognizing the growing bilateral relationship and the increasing global importance of both China and India, the two sides agreed to "a regular exchange of visits between the Heads of State/Government of the two countries."

While striving to realize the trade turnover target of 100 billion U.S. dollars by 2015, the two countries agreed to take measures to address the issue of the trade imbalance, including cooperation in pharmaceutical supervision and completion of phytosanitary negotiations on agro-products.

The two sides also expressed willingness to carry out cooperation on establishing industrial zones so as to provide platforms for cluster-type development of enterprises of the two countries.

Moreover, they agreed to strengthen cooperation between their financial regulators, and support their banking institutions in setting up representative offices, branches or subsidiaries, and carrying out business activities subject to relevant laws and regulations.

To pursue mutual benefit and fulfill their international cooperation objectives, both China and India agreed to consider collaborating on development projects of common interest in third countries.

To promote trade, personnel movement and connectivity across the border, the two sides also agreed to consider strengthening border trade through Nathu La Pass.

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