India, China agree to take steps to address trade imbalance

May 20, 2013 18:10

Targeting USD 100 billion in bilateral commerce by 2015, India and China today agreed to take steps for addressing the issue of trade imbalance through greater cooperation in areas like pharmaceutical and IT.

A joint statement issued after the meeting of Prime Minister Manmohan Singh and Chinese Premier Li Keqiang said: "While striving to realise the trade turnover target of USD 100 billion by 2015, the two countries agreed to take measures to address the issue of the trade imbalance.

"These include cooperation on pharmaceutical supervision including registration, stronger links between Chinese enterprises and Indian IT industry, and completion of phytosanitary negotiations on agro-products."

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