India-China Agree To Set-Up Mechanism To Reduce Trade Deficit

Mumbai: In a recent development, India and China have agreed to create a new mechanism to discuss in a concrete way how to reduce the trade deficit.

Giving information to the media after delegation-level talks between Prime Minister Narendra Modi and Chinese President Xi Jinping, Foreign Secretary Vijay Gokhale said that President Jinping was ‘satisfied’ with the talks and asked PM Modi for the next round of informal talks Invited to China.

Gokhale said during the briefing, “A new mechanism will be put in place to discuss trade, investment and services at a new level. From China, it will be Vice Premier, Hu Chunhua and India. It will be FM Nirmala Sitharaman.” The Foreign Secretary further said that the deadline for the mechanism has not yet been finalized, but will be outlined ‘very soon’.

“There was a renewed focus on people’s relations. It was decided that the people of the two countries should be brought into the relationship, ideas were exchanged on this,” he continued.

“The two leaders held talks for about 90 minutes today, followed by delegation-level talks and then hosted lunch by PM Modi. A total of 6 hours of the meeting between the two leaders took place during this summit.” said. Gokhale further said, “President Xi Jinping invited PM Modi to China for the next summit. PM Modi has accepted the invitation. Work will be done later.”

He said, “Both leaders agreed that it is important to deal with the challenges of terrorism and bigotry in an increasingly complex world. Both are leaders of countries that are not only large in terms of regions and population, but also in terms of diversity.” Are very important.”

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