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China, India in talks on trade strategy: Li

(China Daily)

08:26, May 22, 2013

China and India are discussing boosting an equal and fair environment to promote two-way trade and investment, Premier Li Keqiang said on Tuesday in Mumbai.

"There are solutions to helping the two countries maintain rapid growth in bilateral trade and investment," Li said during an evening banquet at the China-India Commercial Summit.

China has great potential to add investment in India, Li said, and is committed to addressing the trade imbalance with India.

Beijing is encouraging Chinese companies to invest abroad and India has launched its 12th five-year plan (2012-16) in which it plans to largely develop its infrastructure.

Li also encouraged entrepreneurs from both countries to join hands to seek more business opportunities. "They have the wisdom and capability to do this," he said.

China will open its market wider and work with India to jointly mitigate the bilateral trade imbalance, Li told business leaders in New Delhi earlier.

He pledged support for Chinese companies stepping up investment in India, and help for Indian products to access the Chinese market.

On the third day of his first foreign tour since taking office as premier two months ago, he reiterated the importance of cooperation between the two countries, describing the bilateral relationship as "one of the most important in the 21 century".

"We have the ability to address the issue of trade imbalance," said Li. "China never has the intention to pursue a trade surplus. Only a dynamic trade balance is a sustainable trade relation."

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