India to Host China Engineering, Commodities FairA four-day China Engineering and Commodities Fair will be staged in the Indian capital from December 6 to 9 this year in a bid to add impetus to the development of trade and economic relations between the two countries.Sponsored by China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC) and co-hosted by the Confederation of Indian Industry (CII), the fair is believed to be the largest display of Chinese engineering expertise and commodities in the past decade, as it is almost twice the size of the previous one held here in late 1997. "This fair will show the Indian business and industrial circles as well as the general public the advanced level and strengths of China in the fields of engineering construction," said a press release from MOFTEC officials who arrived here some one week ago to prepare the exhibition. The fair will also showcase carefully selected Chinese products representing the latest economic and technological development in China in the sectors of machinery, equipment, mining, chemical, telecommunications and electronics, the release added. While the fair covers an exhibition area of over 4,600 square meters, the Chinese delegation consists of more than 130 companies and some 300 staff members, it noted. Despite the fact that India has been China's largest trade partner in the entire south Asian region, the total volume of bilateral trade between the two neighboring countries stood at a meager US$1.988 billion according to 1999 figures. Both sides have agreed there remain great potential for them to boost trade and economic cooperation. "The potential is enormous as both of us are large developing economies," said Satish Kaura, president of the CII. "We need to study more about each other and achieve a better mutual understanding." According to Du Chengping, economic and trade counselor of the Chinese Embassy in India, bilateral trade volume between India and China between January and September this year had exceeded last year's total volume. "Judging from the size of each country's domestic market, however, this growth is still too small to cheer about," he added. |
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