India for trilateral business mechanism with China, Russia
India on Saturday favoured establishment of a trilateral business partnership mechanism with China and Russia to exploit the huge resources existing in the three countries.
By PTI |
NEW DELHI: India on Saturday favoured establishment of a trilateral business partnership mechanism with China and Russia to exploit the huge resources existing in the three countries.
"The three countries should also make efforts to collaborate in biotechnology, information technology and pharmaceuticals, where all of them have specialisation," Nalin Surie, Secretary (West) in the Ministry of External Affairs, said here.
"Investment between these three countries is quite insignificant," he said while addressing a seminar on 'India-China-Russia: Strengthening Economic Cooperation'.
Surie said that varied potential for cooperation existed between the three nations considering the presence of huge natural and human resources.
"India, China and Russia have huge raw material and energy reserves. From economic view point, all three of us should come together to form India-China-Russia business partnership to exploit our resources and benefit economically from increased trade and specialisation in production," he said.
According to statistics, the total trade between India and China in the year 2005-06 was to the tune of USD 17.6 million and in 2006-07, it crossed the USD 25 billion mark.
"Even though the statistics show that economy is witnessing a boom in India, China and Russia, there is much more to be done," Surie said.
Russian Ambassador V I Trubnikov said his country has always been keen on developing trade ties with India and China.
"The three of us can work together to promote joint ventures that could infuse more investments in oil exploration and production blocks in Russia, ensuring energy security in India and China," Trubnikov said.
Yu Ping, Vice Chairman of China Council for the Promotional of International Trade, said "mutual understanding among the business communities should be fostered and deepened so as to get maximum benefit".
Yu said more and more avenues like tourism, aviation, pharmaceuticals, energy and education should be "explored and tapped".
"The three countries should also make efforts to collaborate in biotechnology, information technology and pharmaceuticals, where all of them have specialisation," Nalin Surie, Secretary (West) in the Ministry of External Affairs, said here.
"Investment between these three countries is quite insignificant," he said while addressing a seminar on 'India-China-Russia: Strengthening Economic Cooperation'.
Surie said that varied potential for cooperation existed between the three nations considering the presence of huge natural and human resources.
"India, China and Russia have huge raw material and energy reserves. From economic view point, all three of us should come together to form India-China-Russia business partnership to exploit our resources and benefit economically from increased trade and specialisation in production," he said.
According to statistics, the total trade between India and China in the year 2005-06 was to the tune of USD 17.6 million and in 2006-07, it crossed the USD 25 billion mark.
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"Even though the statistics show that economy is witnessing a boom in India, China and Russia, there is much more to be done," Surie said.
Russian Ambassador V I Trubnikov said his country has always been keen on developing trade ties with India and China.
"The three of us can work together to promote joint ventures that could infuse more investments in oil exploration and production blocks in Russia, ensuring energy security in India and China," Trubnikov said.
Yu Ping, Vice Chairman of China Council for the Promotional of International Trade, said "mutual understanding among the business communities should be fostered and deepened so as to get maximum benefit".
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Yu said more and more avenues like tourism, aviation, pharmaceuticals, energy and education should be "explored and tapped".
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