India and China are making significant strides in their bilateral relations, with constructive engagements taking place at various levels.
Speaking at the weekly media briefing on Friday, the spokesperson of the Ministry of External Affairs, Randhir Jaiswal, said that the meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Kazan marked a crucial turning point, followed by productive discussions between Indian Foreign Secretary and Chinese Vice Foreign Minister.
“Since we had a meeting between Prime Minister Modi and Chinese President Xi in Kazan. Since then, we have had constructive engagement at the levels of EAM, NSA and the Foreign Secretary also travelled to China in January, where he met his counterpart…Conversations and dialogues have been going on and they have been moving forward in the right direction…Several in principal approvals and understanding have been reached and hopefully, they will go forward in the days ahead,” said Jaiswal.
Notably, both leaders met on the sidelines of the 16th BRICS Summit in Kazan, Russia, on October 23, 2024.
One major breakthrough is the agreement to resume the Kailash Mansarovar Yatra in 2025, a significant pilgrimage for Hindus. While details are still being worked out, this development is a positive step in normalizing relations between the two nations.
“It has been agreed that the Kailash Mansarovar will start in 2025, but how the yatra will start, and other talks are still going on…,” said Jaiswal.
Additionally, India and China have agreed on six key points to improve their relationship, including Restarting the Kailash Mansarovar Yatra and allowing Indian pilgrims to visit Tibet, China; Cooperating on trans-border rivers by sharing data and best practices for managing shared water resources.
The two countries also agreed to resume Nathula border trade by re-establishing trade relations between the two nations and promoting cross-border exchanges by encouraging people-to-people ties through cultural, educational, and tourism initiatives.
They also agreed to strengthen border management by enhancing cooperation and communication to maintain peace and stability along the border and advancing bilateral relations by fostering a stable, predictable, and amicable relationship between India and China.
India is also engaging with Peru to finalise a Free Trade Agreement (FTA), with the 8th round of negotiations slated to take place soon.
“I understand that this negotiation was launched in 2017, and since then, we had 7 rounds of negotiations. The two sides are in touch, and the 8th round of negotiations will also happen…,” said Jaiswal.
Peru’s Foreign Minister Elmer Schialer on Monday emphasised the importance of improving logistics between India and Peru to strengthen their economic ties.
He envisioned the construction of a naval and aerial hub, incorporating two massive ports, to facilitate smoother trade and commerce.
“We need better logistics… construction of naval and aerial hub encompassing two huge ports… We hope that India soon touches the Peruvian soil in our airports…,” said Schialer, who was here to attend Raisina Dialogues 2025.
The India-Peru Free Trade Agreement, currently under negotiation, aims to boost bilateral trade and investment. The agreement will cover trade in goods and services, investment, and other areas of cooperation. Both countries have made significant progress in the negotiations, with the seventh round of talks concluding in April 2024.During a recent discussion on the India-Peru Free Trade Agreement (FTA), Peru’s Foreign Minister Elmer Schialer stressed the need for better logistics infrastructure to enhance trade between the two countries.
On the specifics of the India-Peru FTA, Schialer noted that India is Peru’s third or fourth most important trading partner. He remarked that the FTA would send a “strong signal” to businesses in both countries to work more closely together.
Schialer expressed his hope that the agreement could be signed by the end of the year, opening the door to greater trade and commercial exchanges.
Both countries have mutually agreed to set aside sensitive sectors like textiles to avoid hindering progress in other areas, with plans to address these sectors later for mutual benefit.
India and Peru have a long history of friendly relations, dating back to 1963. Their bilateral trade has grown significantly, from USD 66 million in 2003 to USD 3.68 billion in 2023. With the proposed free trade agreement, both nations are poised to explore new avenues for economic collaboration and mutual growth.
Schialer also highlighted the significance of the Global South, emphasizing the need for concrete measures and realistic approaches to foster cooperation.
He said that by focusing on tangible outcomes, nations can strengthen their ties in areas such as trade, investment, and culture. (ANI)
