BRICS Summit: Modi, Xi agree to work together under guidance from 'Panchsheel' treaty

Both India and China on Tuesday agreed to work together for peace and stability in Asia under guidance from the 'Panchsheel' treaty.

Xiamen: Both India and China on Tuesday agreed to work together for peace and stability in Asia under guidance from the five principles of the 'Panchsheel' Treaty. The two sides made these remarks during a meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping on the sidelines of the BRICS Summit at the International Conference Centre, Xiamen. 

In his opening remarks, Modi congratulated Xi for the successful execution of the BRICS (Brazil, Russia, India, China, South Africa) Summit and stressed that India and China – the two big nations in Asia - should work together for peace and stability.

China's Xi, too, reciprocated by saying that his country was prepared to work with India, seeking guidance from five principles of the 'Panchsheel Treaty'. 

This was also the first meeting between the two leaders since the Doklam stand-off.

During the Modi-Xi meeting, the two sides discussed trade, terror, cyber security among other pressing issues. 

PM Modi on Twitter said that he held fruitful talks with Xi Jinping.

Met President Xi Jinping. We held fruitful talks on bilateral relations between India and China. pic.twitter.com/hbKRPpRwyl — Narendra Modi (@narendramodi) September 5, 2017

The Xi-Modi meeting holds significance since the Dokalam standoff had put ties between the two countries under strain.

The Prime Minister was accompanied by senior officials including National Security Advisor Ajit Doval and Foreign Secretary S Jaishankar, while the Chinese delegation comprised of President Xi Jinping, chief spokesperson Lu Kang, foreign minister Wang Yi and state counsellor Yang Jiechi.

After the Indian delegation met the Chinese leader, PM Modi left for Myanmar from this port city.

I thank the Chinese government & people for their warm hospitality during the BRICS Summit. Leaving for Myanmar for a bilateral visit. — Narendra Modi (@narendramodi) September 5, 2017

The meeting comes amid diplomatic efforts by the two sides to overcome the bitterness caused by the 73-day face-off between their troops in the Dokalam area of the Sikkim sector.

According to reports, the bilateral meeting lasted for about 30 minutes. 

PM Modi had earlier this morning said the development agenda of BRICS countries lies with “sabka saath, sabka vikas” as he called for an ''inclusive world'' while addressing the 'Dialogue of Emerging Market and Developing Countries' in Xiamen, China.

The bedrock of our development agenda lies in the notion of 'sabka saath, sabka vikas', the PM said.

PM also urged BRICS nations to work collectively for a digital world, skilled world, healthier world, equitable world and harmonious world.

The PM also called for an 'inclusive world', where the poorest of the poor are integrated into the financial mainstream.

PM Modi had earlier pitched for setting up of a BRICS credit rating agency to counter western rating institutions and cater to the financial needs of sovereign and corporate entities of developing nations. 

In an address at the plenary session of the BRICS Summit on Monday, Modi had said a separate rating agency would help the economies of the member countries as well as other developing nations.