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India-China inks 24 agreements worth over $10 bn

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Beijing: India and China have signed 24 agreements worth over 10 billion dollars in Beijing on Friday morning after Prime Minister Narendra Modi held talks with Chinese premier Li Keqiang.

“Signing Ceremony in progress. A record 24 Bilateral Agreements being signed between India and China,” External Affairs Ministry spokesperson Vikas Swarup tweeted.

Modi, who held wide-ranging talks with his counterpart Li Keqiang, also stressed on bridging trade deficit with China.

Trade deficit between India and China increased about 34% to $48.43 billion in 2014-15 from $36.21 billion in the previous fiscal.

According to provisional figures, in 2014-15, India’s exports to China stood at $11.95 billion while imports were $60.39 billion.

India and China will set up task force to look into trade imbalance and other economic issues, said foreign secretary S Jaishankar.

The agreements signed between India and China focussed on certain sectors, including railways, space cooperation, tourism, maritime security, human resource development, skill development and cooperation between Doordarshan and China Central Television (CCTV).

Modi is on a three-day visit to China as the two world’s two largest countries by population work to boost economic ties despite decades of mistrust.

Earlier in the day, Prime Minister Modi was accorded with an official welcome ceremony at the Eastern Plaza in the Great Hall of People. Modi, along with Premier Li, inspected the Guard of Honour before the national anthems of India and China were played at the venue.

In the afternoon, the two leaders are scheduled to address the State/Provincial Leaders’ Forum, following which Premier Li will host a lunch banquet for the Prime Minister.

Prime Minister Modi will later meet National People’s Congress (NPC) standing committee chairman Zhang Dejiang, before visiting the Tsinghua University, where he is scheduled to address the students. He will then visit the Temple of Heaven, where he will have his final engagement in the city: a yoga-tai chi joint event.

In the evening, the Prime Minister shall depart for Shanghai, the third and final city he shall be visiting during his current tour of China.

Here’s a list of agreements signed by India and China:

1. Protocol for establishment of consulates in Chengdu and Chennai

2. Cooperation in vocational education and skill development and setting up of Mahatma Gandhi institute on skill development in India

3. Consultative mechanism on cooperation in trade negotiations

4. Cooperation between Foreign Ministry and and Central Committee of Communist Party of China (CCCPC)

5. Action plan between national railway administration of China and Indian Railways

6. Memorandum of Understanding on education exchange programme

7. Cooperation in the fields of mining and minerals

8. Space cooperation outline

9. Safety regulations on importing Indian rapeseed meal

10. Broadcasting agreement between CCTV and Doordarshan

11. Agreement for cooperation in the field of tourism

12. Memorandum of Understanding on establishing India-China think tanks forum

13. Memorandum of Understanding between NITI Aayog and Development Research Centre

14. Memorandum of Understanding on cooperation in earthquake science and engineering

15. Memorandum of Understanding on cooperation in ocean sciences, climate change and cryosphere

16. Memorandum of Understanding on cooperation in geo sciences

17. Memorandum of Understanding on establishment states/provincial leaders’ forum

18. Cooperation between states and municipalities – establishment of India-China state leaders forum

19. Agreement on the establishment of sister states Sichuan and Karnataka

20. Agreement on the establishment of sister cities between Chennai and Chongqing

21. Agreement on the establishment of sister cities between Hyderabad and Gingdao

22. Agreement on the establishment of sister cities Aurangabad and Dunhuang

23. Memorandum of Understanding between ICCR and Fudan University for establishment of centre for Gandhian studies

24. Memorandum of Understanding for the establishment of Yoga college in Kumning

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