India and China have reached a “consensus” on goods and services trade, investment and facilitation of investment, and economic cooperation, as part of a proposed Regional Trade Agreement (RTA).

The announcement was made following discussions in Beijing on June 4 and 5, 2007. The two sides will meet again in August, in New Delhi, and wrap up the joint research by October, as the leaders of both countries required, according to a statement from the Chinese commerce ministry.

A China-India trade arrangement would give a significant boost to the vast East Asian and South Asian markets, while facilitating Asian economic integration, Chinese Vice-Minister of Commerce Yi Xiaozhun said.

Bilateral trade between the two countries has grown by 56.8% year-on-year. It reached $ 11.4 billion in the first four months of 2007. The two countries have set a target of $ 40 billion in bilateral trade by 2010.
 

June 8, 2007