China, India to Boost Trade, Investment, Energy Ties

China and India, the world’s two fastest-growing major economies, agreed to boost trade and investment and promote cooperation in areas such as civilian nuclear energy.

Trade between the two countries should be boosted to $40 billion by 2010, said Indian Prime Minister Manmohan Singh at a joint press conference in New Delhi before the agreements were signed. Trade has risen from $260 million in 1990 to $18.7 billion in 2005, Sun Yuxi, China’s ambassador to India said in a release issued in local newspapers in New Delhi today. It has reached $13.6 billion in the first seven months of this year and is expected to surpass $20 billion by the year end, he said.

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