New Delhi, December 15, 2010
We’re partners not competitors, Wen tells India
Sujay Mehdudia
Rejecting the `dragon’ vs. ‘elephant’ scenario favoured by Western observers, Chinese Premier Wen Jiabao told a gathering of top business leaders that India and China “are partners for cooperation and not rivals in competition”.
As if to underscore that point, Indian and Chinese companies and business institutions proceeded to sign 50 deals worth a staggering $16 billion at a formal function in Mr. Wen’s presence put together by Ficci, CII and Assocham – surpassing the $10 billion inked during the recent visit of American President Barack Obama.
Premier Wen, accompanied by a 400-strong Chinese business delegation, arrived here Wednesday on a three-day visit to India that both sides hope will put an end to some of the sourness that has crept into bilateral relationship of late. Determined to show India the human side of the new China, the premier, who likes to be known back home as ‘Grandpa Wen’, later interacted with schoolchildren at a south Delhi school, teaching them calligraphy and fielding softball questions, and presented ‘friendship awards’ to nine Indians for their contribution to the deepening of bilateral ties.
“There is enough space in the world for the development of both China and India. There are enough areas for us to cooperate,’’ Mr. Wen told the gathering of industrialists. He said both the Asian economic giants were in the process of rapid industrialisation and urbanisation accompanied by fast and sustainable economic growth and it was not proper to link China to a `dragon’ and India to an `elephant’. ``I don't agree with such a view. I don't think business people agree either,’’ he remarked.
Addressing the concerns raised by India on various forums about the rising trade deficit, Mr. Wen said China was open to more imports and would try to expand the prospects for Indian exporters. ``'We will offer more platforms for Indian products in China. Also, by opening markets to each other, we will be most dynamic economies and can support each other in economic development,’’ he added.
Similarly, he said with bilateral trade likely to touch $60 billion, Indian exporters could explore getting access to Chinese markets in areas like IT, pharmaceuticals and agriculture and allied products.
India-China bilateral trade stood at $51 billion last fiscal, up from around $15 billion in 2005. But China, India's largest trading partner, is poised to enjoy a trade surplus of $24 billion this year, up from under $1 billion in 2002. India has been pressing China to open up its economy for more exports from here. ``By opening markets to each other, we will be most dynamic economies and can support each other in economic development,’’ Mr. Wen acknowledged.
Commerce and Industry minister Anand Sharma welcomed the agreements and MoUs and also the announcement by Mr. Wen that his country was ready to address India’s concerns on the trade deficit and market access issues.
Prime Minister Manmohan Singh and Premier Wen will hold official talks on Thursday.
Keywords: India-China relations, Wen visit
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