Bilateral trade between India and China is expected to touch the $60-billion mark by the end of this year, a senior Chinese diplomat said today.
"We expect our bilateral (India and China) trade to touch the $60-billion mark by December this year," Chinese consul general Wang Donghua told PTI on the sidelines of a retail products' exhibition here.
The Chinese diplomat said that though there was a decline in trade volume because of the global meltdown, it was expected to rise again in the near future.
"Trade had come down because of the downturn in the global economy. In 2008, our bilateral trade stood at $51.47 billion. But it declined to $43.3-billion in 2009. We expect it to rise to $60 billion this year," Donghua said.
The Chinese consul general said that India-China trade would not be affected by certain differences between the two countries.
"There could be some disputes between the two countries (India and China), but I am optimistic that it will not affect trade relations between us," Donghua said.
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He was of the opinion that India and China should stand by each other in trade-related matters as both were in a similar stage of development. "China and India should complement each other as they are in a similar stage of development. Trade relations between us is very healthy and we expect the same kind of co-operation in the future too," Donghua said.
A good trade relationship would benefit both countries in the long run, he said.
"It will be a win-win situation for both countries, especially when the proximity of the two countries is taken into consideration. Trade will benefit both the countries in the long run," he said.