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CII
and the China Council for the promotion of international trade (CCPIT),
to work together on many fronts
The Chinese Premier H E Mr. Zhu Rongji, would be meeting Indian business leaders on the 16th January 2002 in Mumbai, but the first meeting of the high level business delegation accompanying the Premier, was held at the Confederation of Indian Industry (CII), here today.
The nineteen member strong Chinese delegation was headed by Mr. Yu Xiaosong, Chairman of the China Council for the promotion of international trade
(CCPIT).
Mr. Xiaosong, representing the Chinese delegation, said that CII and CCPIT must work together for the promotion of business between the two countries and to initiate this, CCPIT was ready to take up CII's offer to partner in the "India engineering trade fair 2003".
Mr. Xiaosong, stressed the need for the two countries, to work together to realise the benefits of WTO and exchange and learn from each other's experiences of economic reforms.
In a promising start to the Chinese business delegations visit to India, Mr. Wang Jinzhen, Director General International relations department, CCPIT, reiterated Mr. Xiaosong's words and said that, "CCPIT agrees to work with the CII on the joint working group on trade and investment".
Mr. T K Bhaumik, Senior Advisor (Trade policy) CII, in a presentation on "India and China: engaging each other", suggested that CII and CCPIT should form an industry level joint working group on trade and investment , a sectoral coordination committees to build sectoral synergies between the two countries and then in near future, head for preferential trade agreement.
Emphasising India's stand on WTO, Mr. Bhaumik said that, India was for strengthening multilateralism, free and fair trade environment, greater market access, better implementation of WTO agreements and a total transparency in functioning of
WTO.
He said that India and China shared many common concerns and hence should work together along with other countries to create a better and equitable WTO. He suggested setting up of a joint working group on
WTO.
Earlier, in his welcome remarks, Mr. Sunil Kant Munjal, Chairman, CII Economic Affairs Committee and Managing Director, Hero Corporate Services, hoped that, the visit of H E Mr. Zhu Rongji, Premier of the state council of the People's Republic of China, and the accompanying business delegation, to India, would further the Indo-China ties.
He said that, coming in the wake of China's entry into WTO, the Chinese Premier's visit assumed even greater importance. He asked CCPIT to join hands with CII in evolving a common strategy for
WTO.
Mr. Munjal said that, for greater economic ties between the two countries, CII had recommended
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Setting up joint working group in the field of services, IT, environment, energy, agriculture and agro processing industry, pharmaceuticals and WTO
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Joint study of the regions of India and China for products and technology
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Promote opportunities for Indo-China cooperation in different cities of both countries
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Organise Indian exhibitions in China and
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Cooperate in areas of infrastructure development
Participating in the meeting, to interact with the Chinese business delegation, for greater trade relations, were the Indian business leaders from Bharti Telecom., NIIT, Nicholas Piramal, Ranbaxy Laboratories, Vam Organics, among others.
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