India, China agree to deepen bilateral investment, open mkts

Holding their first comprehensive Strategic Economic Dialogue (SED) here today, India and China have reached an understanding to deepen bilateral investment cooperation, further open up markets to each other and improve the investment environment.

High-power delegations led by India's Planning Commission Deputy Chairman Montek Singh Ahluwalia and China's National Development and Reform Commission Chairman Zhang Ping had a very positive and successful dialogue on stepping up cooperation and coordination on a host of economic issues, Indian officials said.

The two sides have agreed to stay committed to deepening bilateral investment cooperation, further opening markets and improving the investment environment in both countries to lay a solid foundation for pragmatic cooperation between the businesses of the two countries on the basis of complementarities, mutual benefit and win-win outcomes, minutes circulated at the end of first session said.

The two sides also agreed to strengthen cooperation on energy efficiency and conservation, as well as on environmental protection.

Both sides agreed to actively foster cooperation on energy, including the renewable energy sector, in order to promote sustainable development.

Enhanced exchanges in these spheres would be the new engine for greater cooperation between the two sides, the minutes said.

In his opening address, Ahluwalia said India and China share many commonalities.