“We’re living in interesting times,” thus goes the Chinese saying.

The same can be said about India-China relationship. They have decades-old border dispute, which keeps surfacing as an irritant in a relationship that has seen Indian and Chinese armies taking part in joint exercises and thriving trade ties.

Given this backdrop, the China visit of Indian Prime Minister Manmohan Singh assumes great significance as the boundary issue would top the agenda of his talks with Chinese Premier Li Keqiang.

It is believed that the countries may sign a Border Defense Cooperation Agreement to prevent unsavory situations cropping on the 4,000km border they share.

Li made New Delhi his first stop when he embarked on his maiden foreign tour after assuming the office. During his visit the two countries agreed to boost cooperation in communication and coordination at various levels, especially on major international economic and financial issues.

Although China is India’s largest trading partner with bilateral trade of $68 billion, it’s unfavorable to India with trade deficit touching $40 billion in 2012-13.

The Indian industry feels that trade imbalance can be corrected through more economic engagement with China and secondly it is of the view that China’s competitive price can spur industrial and infrastructure growth.

On the other hand, China offers a huge market to many Indian services and goods.

This is the reason why the industry captains feel that the agreement on border dispute will pave the way for deeper economic engagement. In this regard, they cite the case of Japan, which despite a territorial dispute with China, has greater economic ties.

Both countries share common interests and can contribute immensely to each other’s growth and make the “Asian Century” dream a reality.

Editorial

(The Brunei Times)

(Asia News Network)