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India should become a permanent member of UNSC: Wen Jiabao

IRNA - Islamic Republic News Agency

New Delhi April 11, IRNA
India-China-UN
Chinese Prime Minister Wen Jiabao said here Monday that his country would be 'pleased' to see India as a permanent member in the United Nations Security Council.

India and China agreed to raise bilateral trade by 7 billion dollars to 20 billion US dollars by 2008 even as Beijing hinted at opening up markets for Indian rice.

Besides agreeing to work together in energy security and strengthen cooperation in the WTO, both the countries also decided to support an 'open, fair, equitable and transparent rule-based multilateral trade system', said a joint statement signed by the two leaders.

After wide-ranging discussions here, the two prime ministers signed a landmark joint statement and witnessed the signing of 12 accords, including a protocol on modalities for implementation of confidence building measures in the military field along the Line of Actual Control (LAC).

To strengthen bilateral economic ties between the two gigantic economies, the premiers had asked the ministerial-level India-China Joint Economic Group to consider the recommendations and coordinate implementation.

The JEG would meet within the next six months to take up these ecommendations. The JEG had suggested India-China Regional Trading Agreement comprising trade in goods and services, investments, identified understandings for trade and investment promotion and facilitation and measures for promotion of economic cooperation in the identified sectors.

Regarding energy sector, the joint statement said India and China agreed to cooperate in the field of energy security and conservation, including, among others, encouraging relevant departments and units of the two countries to engage in the survey and exploration of petroleum and natural gas resources in third countries.

On WTO, the statement said both the sides agreed to conduct regular exchange of views on major international and regional issues and work together to preserve stability and growth in the global economy and reduce disparities between developed and developing countries.

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::IRNA No.075 11/04/2005 16:52 --End