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Commerce
Minister
Suresh
Prabhu
and
his
Chinese
counterpart,
Zhong
Shan,
met
here
on
Monday
for
the
first
high-level
contact
between
both
sides
that
decided
to
“reset”
their
ties
this
year
in
the
run-up
to
a
Xi-Modi
summit
meeting
in
China.
Mr.
Zhong,
who
co-chaired
the
11th
meeting
of
the
India-China
Joint
Group
on
Economic
Relations,
Trade,
Science
and
Technology
with
Mr.
Prabhu,
said
a
free
trade
agreement
(FTA)
between
India
and
China
would
be
negotiated
in
due
course,
which
would
be
a
breakthrough
in
ties.Since
2014,
President
Xi
Jinping
and
Prime
Minister
Narendra
Modi
have
met
on
several
occasions.
Mr.
Zhong
said
they
had
decided
that
the
two
countries
would
build
a
closer
partnership
in
development
and
deepen
cooperation
in
all
areas.
With
the
care
and
personal
support
of
the
Chinese
and
Indian
leaders,
the
trade
and
economic
ties
between
the
two
countries
had
kept
a
fast-growing
momentum.
In
2017,
the
bilateral
trade
reached
$84.4
billion,
registering
a
growth
of
20.3%
from
the
year
before
and
a
record
high.
In
particular,
China’s
import
from
India
soared
by
40%,
helping
ease
the
bilateral
trade
imbalance.
China
remained
India’s
largest
trading
partner.
India
had
become
one
of
the
most
important
overseas
investment
destinations
for
Chinese
companies.
Mr.
Zhong
said
that
at
the
11th
session
JEG
meeting,
he
and
Mr.
Prabhu
had
in-depth
discussions
and
the
two
sides
had
reached
a
series
of
important
consensus.
First,
the
two
sides
would
jointly
promote
the
synergy
between
China’s
Belt
and
Road
initiative
and
India’s
development
strategies,
including
the
“15-year
Development
Agenda”,
“Make
in
India”
and
“Digital
India”
to
deepen
mutually-beneficial
cooperation
and
share
development
experience.
Second,
the
two
sides
would
promote
India’s
exports
to
China
so
as
to
address
the
trade
imbalance
between
the
two
countries.
China
welcomed
the
participation
of
Indian
businesses
in
the
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