Beijing, Nov 02: Chinese premier Wen Jiabao today highlighted the booming Sino-Indian foreign trade which rose by 85.3 per cent during the first three quarters of this year, registering the highest growth among China's trade partners in Asia. "Our total import from the rest of Asia increased by 43.1 per cent, with imports from Japan, the Republic of Korea, India and Asean countries growing by 39.7 per cent, 52.8 per cent, 85.3 per cent, and 54.5 per cent respectively," Wen said in his keynote address at the second annual conference of the Boao Forum for Asia (BFA) in Boao city in south China's island province of Hainan.

India is already China's biggest trading partner in South Asia region. India-China trade in 2002 touched 4.9 billion USD, up 37 per cent over 2001. Bilateral trade this year is expected to touch a record seven billion and cross 10 billion dollar-mark by end of 2004, achieving a target set by the political leadership of the two of the fastest developing countries.

Speaking at the event, the secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI), Amit Mitra said that India is keen on the cooperation with China and the advantages of both countries joining forces for mutual benefit.

Bureau Report