India China Agreement 2012: A comprehensive overview
In 2012, India and China signed a landmark agreement to boost bilateral trade and promote economic cooperation. The agreement, which was signed during the visit of China`s Premier Wen Jiabao to India, covered a wide range of areas including trade, investment, and infrastructure development.
One of the key objectives of the agreement was to increase bilateral trade between India and China. Under the agreement, both countries agreed to work towards achieving a bilateral trade target of $100 billion by 2015. To achieve this goal, both countries agreed to reduce trade barriers and simplify customs procedures.
The agreement also focused on promoting investment between India and China. Both countries agreed to establish a Joint Economic Group (JEG) to identify and promote investment opportunities in each other`s markets. The JEG was tasked with identifying sectors of mutual interest such as infrastructure, information technology, and renewable energy.
The agreement also recognized the importance of infrastructure development in promoting trade and investment between the two countries. To this end, both countries agreed to cooperate in the development of infrastructure projects in each other`s countries. The two countries also agreed to cooperate in the development of a high-speed rail link between Delhi and Chennai.
The India China Agreement 2012 also addressed the ongoing border dispute between the two countries. The agreement recognized the need to maintain peace and stability along the border and agreed to work towards an early settlement of the border dispute.
The India China Agreement 2012 was a significant step towards strengthening the bilateral relationship between India and China. The agreement covered a wide range of areas including trade, investment, and infrastructure development. The agreement also addressed the long-standing border dispute between the two countries, which has been a source of tension for many years. The agreement has opened up new opportunities for cooperation and has set the stage for increased economic engagement between the two countries.