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China and India will establish an economic corridor among China, India, Myanmar and Bangladesh so as to push for closer links between the two major markets.
The Chinese premier chose India as his first stop in his maiden tour since he assumed office in March and said the decision was “well thought out”.
China has sought to underline the importance of Sino-Indian ties in the context of a rising Asia.
“Many have predicted that Asia will play an increasingly important role in the 21st century. The cooperation between China and India as well as their development are an indispensable part of the process that Asia plays a bigger role in the world,” Li said.
The two leaders jointly addressed a news conference on Monday after eight agreements were signed by the sides.
Among the issues discussed were the bilateral trade deficit, the early resolution of a “historical” border issue and cooperation on the shared rivers.
The two leaders have also asked Special Representatives to consider further measures that may be needed to maintain peace along the border.
“We agreed that our Special Representatives will meet soon to continue discussions, seeking early agreement on a framework for a fair, reasonable and mutually acceptable boundary settlement.”
India has also sought increased market access to China for Indian exports and investments.
“I also invited increased Chinese involvement in the vast opportunities in our infrastructure and manufacturing sectors,” said Singh.
The Chinese premier has stressed that India and China account for more than one third of humanity and provide two major markets of huge potential to the world.
“The peace of the world and the stability of the region cannot be guaranteed without strategic mutual trust between China and India. Likewise, the world’s development and prosperity cannot be realised without cooperation between China and India,” Li said.
Singh said he told Mr Li that the rise of China and India was good for the world and “that the world has enough space to accommodate the growth aspirations of both our peoples”.
“I am delighted that there are so many areas of convergence between us and on which there is a great deal of meeting of minds,” he added.
The BRICS Post