China, India Should Boost Trade, Investment Ties, Yang Says

China and India, the world's fastest-growing major economies, should boost trade and investment andimprove mutual trust, Chinese Foreign Minister Yang Jiechi said. ``We should fully tap the potential in business cooperation,upgrade trade quality, improve trade mix,'' Yang said in NewDelhi today. China is ready to ``take effective measures toremove trade and investment barriers,'' he said. India and China, which fought a border war in 1962, have improved political and military ties in recent years. The twonations, whose combined population accounts for two-fifth of theworld's total, aim to consolidate trade and economic cooperationby ending years of mistrust. Trade between the two countries rose 64 percent from a yearearlier to $33.5 billion in the first seven months, Yang said.Trade volume between the two nations was $38.6 billion last yearand both countries have agreed to raise the target for bilateral trade to $60 billion by 2010, the minister said. Yang said the two nations should work beyond bilateralcooperation and contribute to global peace. ``There is no conflict of fundamental interests betweenChina and India,'' Yang said. ``We are partners not rivals.''
Border Disputes
Both sides, rivals for energy resources in Africa and elsewhere, have tried to ensure that their ties aren't marred bydisputes along parts of the more than 3,500-kilometer (2,175-mile)border they share. India says China has occupied 38,000 square kilometers ofterritory in Jammu & Kashmir while China lays claim to 90,000square kilometers of land in India's northeastern ArunachalPradesh state. ``This is an arduous and complex task,'' Yang said. ``Weshould adopt a strategic approach.'' China fully understood India's desire to make peaceful useof nuclear energy and had adopted ``a responsible and productiveapproach'' at the Nuclear Suppliers Group meeting in Vienna lastweek, Yang said. The 45-nation group on Sept.6 granted a waiver for sales ofatomic reactors and fuel to India outside the nuclear Non-Proliferation Treaty. ``Let us work together to move beyond doubts to build astronger relationship between us,'' Yang said.