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Mix-Ansicht- Handel; Indien/China: 7.6 Mrd.$ 03/10Mrd.$ 04 - zani, 19.02.2004, 18:31
Handel; Indien/China: 7.6 Mrd.$ 03/10Mrd.$ 04
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India-China bilateral trade set to touch 10 bn in 2004
14.33 IST 19th Feb 2004
By IndiaExpress Bureau
Bilateral trade between India and China, the two fastest growing economies, is forecast to touch a record level this year at 10 billion US dollars.
Trade volume between China and India is expected to reach 10 billion US dollars by the end of this year, compared with last year's 7.6 billion US dollars, academics and experts attending the fourth meeting of the India-China Eminent Persons' Group (EPG) in Beijing said.
Total volume of bilateral trade between India and China reached an all-time high of 7.598 billion US dollars in 2003, representing an impressive growth of 53.6 per cent over 2002.
While India's imports from China rose by 25.1 per cent in 2003, growth of India's exports to China was higher at 86.9 per cent for the same period.
At the end of 2003, India's exports to China stood at 4.253 billion US dollars, while her imports from China was worth 3.345 billion US dollars, The volume of bilateral trade has increased in each of the last 11 years. Trade volume increased from a low base of 338.5 million dollars in 1992 to 4.95 billion dollars in 2002. From 2000 onwards, trade volume has increased dramatically, both in terms of total volume and rate of growth, official sources said.
"We feel that the frequent trips and meetings between various Indian and Chinese peoples are of great importance to fostering closer understanding and economic cooperation," Liu Shuqing, the co-chairman of EPG said.
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