'Partners For Mutual Benefit'

Joint Press Interaction by Prime Minister Dr. Manmohan Singh and Chinese President Hu Jintao

Manmohan Singh: Good afternoon, Ladies and Gentlemen.

President Hu Jintao and I have had cordial, open and constructive talks focusing on our bilateral relations and cooperation on regional and multilateral issues. The Joint Declaration we have agreed on reflects the understandings arrived at in our talks. It puts in place a ten pronged strategy to intensify cooperation in all areas and to give greater content to our strategic partnership. The nature and range of agreements signed today point to the consolidation and diversification of our bilateral relations. President Hu and I have agreed that the positive development of India China relations in recent years must be made irreversible.

Our two Governments have agreed to hold regular summit level meetings and intensify high level exchanges. We will strengthen institutional linkages and inter ministerial dialogue mechanisms. Additional Consulates General will be opened in each country, one in Kolkata for China and one in Guangzhou for India, to facilitate our growing interaction in trade and tourism. We are happy that the long pending issue of the property of the Indian Consulate in Shanghai has been resolved.

President Hu and I have agreed that comprehensive economic and commercial engagement between India and China will receive our urgent and particular attention. We will endeavour to raise the volume of bilateral trade to US$ 40 billion by 2010 and encourage two way investment flows. We have instructed the Joint Task Force to expedite its study of the feasibility and benefits of the India China Regional Trading Arrangement and submit its report by October 2007. It has been decided to boost trans border connectivity and cooperation. We have endorsed a major initiative on science and technology, which will involve launching of several joint projects. Cooperation in the field of civilian nuclear energy will be promoted. We are also convinced of the imperative need to broad base the relationship through enhanced people to people contacts and cultural ties. There will be several initiatives in this regard, including the launching of an ‘India China Year of Friendship through Tourism’ in 2007 and a five year programme for exchange of youth delegations.

At the fulcrum of our efforts is our collective political will to enrich and reinforce our strategic and cooperative partnership for peace and prosperity and to resolve outstanding issues in a focused, sincere and problem solving manner.

President Hu and I appreciate the progress the two Special Representatives have made in their discussions on the boundary question. We are asking them to accelerate their efforts to arrive at a boundary settlement on the basis of the Agreement on Political Parameters and Guiding Principles signed in April last year. We agree that an early boundary settlement will advance the basic interests of the two countries and must therefore be pursued as a strategic objective. Such a settlement will invest our strategic partnership with further strength and dynamism.

As two large Asian states and as two of the fastest growing emerging economies of the world, cooperation between India and China transcends the bilateral and has global significance. Jointly, our two countries can make effective contributions in dealing with global issues of sustainable and equitable development, energy security, peace and prosperity in Asia and in the world, environment protection and the fight against terrorism and cross border crimes.

I am reassured following my talks with President Hu today that as India and China move forward towards all-round national progress, friendship will be the underlying theme of our cooperation. We will take strength from our cooperative endeavours. President Hu and I are in full agreement that the prospects are bright for the simultaneous development of India and China. There is enough space for the two countries to develop together in a mutually supportive manner while remaining sensitive to each other’s concerns and aspirations, as befits good neighbours and partners for mutual benefit.

Hu Jintao: His Excellency Prime Minister Dr. Manmohan Singh, dear friends, ladies and gentlemen, I am very happy to visit the beautiful country of India.

To begin with, please allow me to take this opportunity to express our heartfelt gratitude to the Indian Government and people for the warm reception and protocol arrangements.

My friend Prime Minister Singh has already made a detailed interaction about the achievements that we have scored during the talks. So, what I need to do now is just to add a few more things. Just now, Prime Minister Singh and I have had friendly and candid talks and we had an in-depth exchange of views on the bilateral relationship and other regional and international matters of mutual interest. Both Prime Minister Singh and I are satisfied with the growth momentum in our relationship.

We both believe that both China and India are major developing countries and our relationship is of global significance with bilateral, regional and international dimensions. China and India share broad and sustained common interests. China and India are true friends and cooperation partners. Our two countries need to carry forward our friendship in the long run, work hand in hand for cooperation and common development and work together to promote peace and development in Asia and the world at large.

We have decided to further expand and deepen our cooperation in economics, trade, finance, information, energy, science, technology, agriculture, human resources development, education and other fields.

The two countries will sign agreements on the investment promotion and protection, and the two sides have also started a new objective to raise the two way trade volume to a level of 40 billion US dollars in the year 2010. The two sides have also decided to speed up the joint feasibility study conducted by the two countries together on our regional trade arrangements.

The two sides have agreed to set up additional Consulates General in each other’s countries - one in Kolkata for China and the other in Guangzhou for India. The two sides have agreed to hold jointly a "China-India Year of Friendship through Tourism" in the year 2007.

I also announce on behalf of the Chinese Government our decision to invite five thousand young people from India in the next five years for a visit to China. We both believe that an early settlement to the boundary question serves the fundamental interests of our two countries and represents the common strategic objectives for the two countries. The two sides agreed to continue their efforts, intensify their work and follow the spirit enshrined in the agreement on the political guiding principles for settlement of the boundary question and explore and find such framework that is fair, reasonable and mutually acceptable. For any eventual solution to the boundary question the two sides need to continue their efforts to work together to maintain peace and tranquility in the border areas.

Both China and India are fully confident of the future of this relationship and we are willing to work together to facilitate the all-round and in-depth development of the strategic and cooperative partnership between our two countries.