India-China Joint Statement: Highlights

India-China Joint Statement: Highlights

Question: The recent visit of PM Narendra Modi to China has yielded rich benefits in terms of deepening bilateral ties between the two nations. Examine this in the context of highlights Joint Statement issued by the two leaders.

• Bilateral relations between the 2 nations was the focus of the joint statement

• India and China have a defining role to play as far as bilateral ties in 21st century Asia is concerned

• Two sides emphasised the importance of strengthening political dialogue and strategic communication through frequent exchanges and complete utilisation of existing dialogue mechanisms

• Regular visits at levels of Heads of State/Government was also stressed

• Establishment of State/Provincial Leaders Forum

• High level exchanges between MEA and International department of central committee of Communist Party of China

• Additional Consulate General to be established in both countries to facilitate P2P engagement

• Joint military exercises and counter terrorism training will be held by the two nations in 2015

• Joint statement also affirmed early settlement of boundary through a 3 stage process in a proactive manner

• 2 sides also resolved to strengthen developmental partnership

• Taking up joint measures to alleviate skewed bilateral trade through full use of India-China Joint Economic Group

• Strategic Economic Dialogue to be established by Niti Aayog and NDRC

• Indian companies to expand presence in China and Chinese companies to Make in India

• Cultural and educational ties were also strengthened through provincial partnership and sister city relations between Indian and Chinese cities

• India China Think Tanks forum was also launched

• Enhanced cooperation in development of smart cities and peaceful use of outer space was also emphasised

• There was also cooperation in the field of public health, medical education and traditional medicine

• Trans border cooperation was also stressed

• Two sides agreed for reform of UN, closer cooperation through SAARC and greater involvement in bilateral relations through mutual dialogue

Facts and Stats

• India and China resumed trade in 1978

• The two nations signed the Most Favoured Nation Agreement in 1984

• India China bilateral trade reached a peak of 51.8 billion in 2008

• India-China bilateral trade for 2012 was USD 66.57 billion, a decline of 10% since the previous year

• India is currently the 5th largest trading partner of China