The Hindu Business Line : India, China trade on course to touch $40 billion by 2010

Kolkata, Nov. 23 Announcing the opening of the office of Consul General of the People’s Republic of China in Kolkata, after a gap of 45 years (it was shut down in 1962), the new incumbent Mr Mao Siwei, has said that the two-way trade between India and China was well poised to touch the targeted $40 billion by 2010.

He said that during the first nine months of the current financial year (April-September), the trade volume has already touched $27 billion, and was well on course to exceed $30 billion. According to him, the trade factor was most important for promoting bilateral ties.

Mr Mao said the new consulate office, with jurisdiction extending to other eastern States like Bihar, Orissa, Chhattisgarh and Jharkhand, and also having a visa section, should become fully functional by early 2008.

Speaking at an interactive session organised by the Bharat Chamber of Commerce here, the new Consul General said a commerce desk at the consulate would become operational within the next two months, facilitating contacts between people on both sides.

He expected economic cooperation between the two neighbours to get a fillip with the introduction of the proposed two-hour commercial flight between Kunming and Kolkata by China Eastern Airlines soon. He said Kolkata may become the new aviation hub for flights to Kunming (in South China) and various parts of China.

‘India not a threat’

Pointing out that China did not see India as a threat, and was treating both India and Pakistan as good friends, the Consul said he visualised India and China playing a major role in the new emerging politico-economic order. “We both, with populations of over a billion each, share a common interest,” he said. He envisaged a brighter future for relationships between the two countries.

Mr Mao also announced the mega ‘South Asia Commodities Fair’ in Beijing in end 2007, and expected participation from Indian businessmen in a big way in this event.

Bharat Chamber has already proposed sponsoring the Kolkata Chapter of the Indo-China Chamber of Commerce.

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