India looks to closer China trade relations

India is eager to expand its economic cooperation with China and it's South Asia's largest country which is one of two foreign nations co-hosting the 13th China International Small and Medium Enterprises Fair (CISMEF) that will take place in Guangdong's provincial capital Guangzhou this fall. The other foreign co-host country is Cote d'Ivoire.

T. J. Suresh, consul (commerce) of the Consulate General of India in Guangzhou, said that the Indian government has prioritized the deepening of economic relations with China.

"The cooperation between the two nations has great potential and will benefit both sides in the following years.

"India, which is enjoying an annual economic growth rate of between 7 and 8 percent, welcomes investment and cooperation from China," Suresh said on the media briefing for the coming 13th CISMEF on Thursday.

India will be the second BRICS (which includes Brazil, Russia, India, China and South Africa) country to co-host the event, following Russia's previous involvement in co-hosting the fair.

"That (India's role as co-host country) indicates how much India values the big Chinese market and Sino-Indian economic cooperation," Suresh said.

An Indian government delegation will also visit China in a bid to further advance both economic cooperation and cultural exchanges between the world's two most populous nations during the event, while also trying to increase sales of its distinctive products, Suresh added.

He also said that SMEs are playing a big role in India's economic development, as 95 percent of all firms in the country are SMEs.

Indian SMEs, which have participated in CISMEF for many years, will bring their distinctive textile, garment, leather, woolen, food and electronics products to bid for greater sales and cooperation with their Chinese counterparts during the fair, which provides a major platform for increased cooperation between Chinese and foreign SMEs.

Indian companies will be able to take advantage of more than 1,800 square meters of exhibiting area, and will have access to 124 standard booths.

They also anticipate being able to increase cooperation with Chinese companies in the fields of information technology, software, medicine, finance and machine industries in the future, Suresh said.

zhencaixiong@chinadaily.com.cn

(China Daily 08/01/2016 page5)