China, India mull Investment Protection pact
As bilateral trade between India and China continues to witness a substantial increase, the two countries have begun negotiations on an investment protection agreement and are working on firming up a regional trade arrangement on the pattern of Fr...
By PTI |
NEW DELHI: As bilateral trade between India and China continues to witness a substantial increase, the two countries have begun negotiations on an investment protection agreement and are working on firming up a regional trade arrangement on the pattern of Free Trade Area (FTA).
The two countries are also discussing the possibility of expanding commerce through Nathula pass, opened last month for border trade after 44 years.
There are a number of agreements to be signed this year which is being celebrated as the 'Year of Friendship', Chinese Ambassador to India Sun Yuxi told reporters here on the sidelines of a book release function.
One of the pacts being negotiated is an Agreement on Investment Protection and Promotion of Trade, he said.
Chinese President Hu Jintao is expected to undertake a visit here in November and the two sides are hoping that the agreement will be finalised by then.
Sun said the bilateral trade has been witnessing a substantial growth and the volume of commerce is targeted to reach $20 billion by the end of the year.
The two sides are working on a Regional Trade Arrangement on the pattern of FTA, he said without elaborating.
Expressing satisfaction over trade through Nathula pass, the Ambassador said discussions are underway to explore how it can be developed further.
In this regard, the two countries are discussing expansion of the list of items allowed for trade through Nathula, he said.
The two countries are also discussing the possibility of expanding commerce through Nathula pass, opened last month for border trade after 44 years.
There are a number of agreements to be signed this year which is being celebrated as the 'Year of Friendship', Chinese Ambassador to India Sun Yuxi told reporters here on the sidelines of a book release function.
One of the pacts being negotiated is an Agreement on Investment Protection and Promotion of Trade, he said.
Chinese President Hu Jintao is expected to undertake a visit here in November and the two sides are hoping that the agreement will be finalised by then.
Sun said the bilateral trade has been witnessing a substantial growth and the volume of commerce is targeted to reach $20 billion by the end of the year.
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The two sides are working on a Regional Trade Arrangement on the pattern of FTA, he said without elaborating.
Expressing satisfaction over trade through Nathula pass, the Ambassador said discussions are underway to explore how it can be developed further.
In this regard, the two countries are discussing expansion of the list of items allowed for trade through Nathula, he said.
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