The Hindu Business Line : Xinjiang region of China seeks joint ventures in Bengal

The Xinjiang Uygur Autonomous region of China (located in the south-west) is seeking joint venture opportunities in areas such as food-processing, garments manufacture and traditional handicrafts in West Bengal.

Speaking at an interactive session on `Economic cooperation between West Bengal and Xinniang Uygur autonomous region of China,' organised by the Bengal National Chamber of Commerce & Industry (BNCCI) here on Wednesday, Mr Sun Zhenxiao, Vice-President of the Xinjiang Foreign Trade and Economic Cooperation Bureau, said language was no longer a barrier for further developing trade ties between the two countries.

Mr Zhenxiao is leading a large trade delegation of the Xinjiang Foreign Trade and Economic Cooperation Bureau of China to India, essentially scouting for business opportunities.

Describing the region as China's major resource base in terms of minerals, oil and natural gas, said the region, which consists of one-sixth of China's total territory, had abundant natural resources such as petroleum and natural gas, and minerals such as coal, gold, chromium, copper and nickel.

Bordering countries such as Russia (Asiatic), Kazakhstan, Tazikstan, Kirghistan, Mongolia, Afghanistan and India, the controlling section of the fabled Silk Road to China falls in this region. The total trade between Xinjiang region and India in 2005 was around $15 million.

Mr Zhenxiao said the government of the region had taken up a plan for rapid economic development, and had projected a GDP growth rate of 8 per cent annually for the first three years, and 10 per cent from thereon for a period of at least 7 years.

Pointing out that the proposed opening of the Nathu-La Pass for cross border trade between India and China was expected to create a new era of closer understanding between the two countries, Ms Nayantara Palchoudhuri, President of BNCCI, said the volume of business between the two still remained quite low at $12 billion in 2004-05.

and inorganic chemicals, the main imports into India items such as mineral fuels, oils and products of their distillation.