India, China to deepen bilateral economic ties

India and China today decided to deepen their economic ties, cooperate on civil nuclear energy programme and enhance military interactions besides strengthening cooperation on trans-border rivers.
While the two sides emphasised on greater economic ties, a joint statement issued after talks between Prime Minister Manmohan Singh and his visiting Chinese counterpart Li Keqiang also agreed to take measures to address the issue of the trade imbalance, the first in any such statement issued by the two countries.
While striving to realise the trade turnover target of USD 100 billion by 2015, the two countries "agreed to take measures to address the issue of the trade imbalance".

The joint statement also does not mention the affirmation by India of 'One-China' principle which recognises Tibet and Taiwan as Chinese regions.
India had skipped the mention of the policy in 2010 too during the visit of then premier Wen Jiabao to New Delhi.
The statement said the two sides "will further strengthen cooperation on trans-border rivers".

"They agreed to cooperate through the Expert Level Mechanism on provision of flood-season hydrological data and emergency management, and exchange views on other issues of mutual interest," it said.
The joint statement, which comes in the backdrop of a recently-concluded stand-off in Ladakh after Chinese troops intruded 18kms inside Indian territory, said the two sides noted that enhanced bilateral interaction in the military field was conducive to building mutual trust and confidence.

"Both sides agreed to hold the next round of joint training exercises later this year. Both sides also decided to increase exchanges between the Army, Navy and Air Force of the two countries", the statement said.