PM Modi, Xi Jinping exchanged views on ways to increase and balance bilateral trade: MEA

Tianjin [China], September 1 : Prime Minister Narendra Modi and Chinese President Xi Jinping, in their meeting, exchanged views on ways to increase and balance the bilateral trade between the two nations, Foreign Secretary Vikram Misri said.

PM Modi met Chinese President Xi Jinping on the sidelines of the Summit of the leaders of the Shanghai Cooperation Organisation (SCO) in Tianjin on Sunday.

Addressing a press conference, Foregin Secretary Vikram Misri said, "Two leaders also exchanged views on ways to increase and balance bilateral trade, strengthen people-to-people ties, cooperate on trans-border rivers and jointly fight terrorism. There was a desire to make additional progress on all of these issues on the basis of mutual respect, mutual interests, and mutual sensitivity."

The Foreign Secretary also mentioned that in the meeting, recognition was given to the important role India and the Chinese economies can play in stabilising world trade.

"In particular, on economic and trade relations, there was recognition of the role that the Indian and the Chinese economies can play in stabilising world trade. Both leaders underlined the need once again to proceed from a political and strategic direction to reduce their bilateral trade deficit, facilitate bilateral trade and investment ties in both directions, and increase policy transparency and predictability," Misri said.

According to MEA's top official, President Xi Jinping, in the meeting, made four suggestions to further upgrade bilateral relations, which were namely to strengthen strategic communication and deepen mutual trust; to expand exchanges and cooperation to achieve mutual benefit and win-win results; to accommodate each other's concerns; and finally to strengthen multilateral cooperation to safeguard common interests.

"All of these were responded to positively by Prime Minister Modi," he said.

He also mentioned that the boundary issue figured in the discussions between the two leaders.

"Both leaders took note of the successful disengagement last year and the maintenance of peace and tranquillity in the border regions since then. In voicing certain principles related to this issue, the Prime Minister underlined the need for peace and tranquillity in the border areas for the continued and smooth development of bilateral relations," Misri said.

"There was an understanding of the need to maintain peace on the borders using the existing mechanisms and avoid disturbances to the overall relationship going forward," he added.

Misri further said that both leaders also expressed a commitment to a "fair, reasonable, and mutually acceptable resolution of the boundary question, proceeding from the political perspective of their overall bilateral relations and in the long-term interests of the two peoples".

Prime Minister Narendra Modi met several world leaders on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit reception in Tianjin on Sunday, where discussions focused on strengthening bilateral ties across defence, trade, energy, and culture.

At the official reception hosted by Chinese President Xi Jinping and First Lady Peng Liyuan, PM Modi exchanged greetings with the host and joined other leaders, including Russian President Vladimir Putin, for the customary family photograph.

During the evening, the Prime Minister interacted with leaders from Southeast Asia, Central Asia and Eurasia, highlighting India's commitment to expand cooperation in diverse sectors.

PM Modi is scheduled to address the SCO Summit plenary session and hold a bilateral meeting with Russian President Vladimir Putin. The official programme of the SCO Summit will commence on the morning of September 1.

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