Image Source
The two Asian giants, India and China, are coming closer on business cooperation front. The leaderships of both countries are working hard to establish better cooperation between two most rapidly growing economy in the world.

Mr Sun Yuxi, Chinese Ambassador in India has said that during the visit of Indian Prime Minister, Manmohan Singh to China, a new way of bilateral relations would be created. The possibility says that India would become the largest trade and economic partner of China in coming ten years. According to the report, if the bilateral economic relation will go as per the plan the trade between India and China would grow at the rate of 40 per cent per annum.

On the occasion of launching the India-China Business Alliance (ICBA), Yuxi said that Chinese embassy is planning to issue `Express Visas’ to Indian businessmen who are recommended by the ICBA. It would be helpful to open synergies between the business communities from China and India. He said further that China would also issue visas to Indian businessmen to set up their manufacturing and export-oriented units in China. That would be done in cooperation with Chinese businessmen.

The existing artificial trade barriers between both countries would be removed in coming days with the development of India-China Business Alliance as per the plan.

Later, during the discussion, the Chinese ambassador revealed eight possible areas of cooperation between India and China such as telecom, electronics, agri-business, iron and steel, chemicals, cotton, silk and services. Presently, the two-way trade between the countries touches $20 billion mark and in coming ten years it would possibly touch the $50 billion mark.

Read