Indian PM Modi Signs Deals Amounting to $22 Billion with Chinese President Xi Jinping
Jotham D. Funclara | | May 16, 2015 02:58 AM EDT |
(Photo : Reuters) Indian Prime Minister Modi's visit to China focused mainly on socioeconomic cooperation.
By the time Indian Prime Minister Narendra Modi completed his visit to China, he and Chinese President Xi Jinping are said to have signed $22 billion worth of economic cooperation deals. The agreements between the two nations covered a wide array of industries, such as ports, renewable energy, and the financial sector.
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One of the highlights of the visit was both leaders' agreement on finding a "fair resolution" regarding their border disputes. In the outset, both India and China have claims on different parts of each other's territory. This includes an area in Tibet, currently administered by India. Over in China, it is known as Zangnan or South Tibet, but in India, it is widely known as a part of the Arunachal Pradesh state.
On the militaristic standpoint, both nations announced on Friday that they plan to set measures aimed at bolstering military cooperation. This again brought the issue of the border conflicts to light. While the visit made no significant progress in resolving this issue, both parties agreed to "a fair, reasonable and mutually acceptable solution as early as possible."
In terms of socioeconomic deals, the two world powers signed a total of 24 agreements, which covered matters like railways, earthquake science and engineering, tourism, mining, and even outer space. An India Times article wrote of a speech by Prime Minister Modi in a joint press interaction, where he said, "Our conversations were candid, constructive and friendly. We covered all issues, including those that trouble smooth development of our relations."
On the other hand, BBC news reported that Chinese President Jinping's statement regarding the Indian leader's visit. He said that both their countries "must work together to enhance mutual trust, control our differences and problems to avoid them interfering with bilateral relations."
After his visit to China, Prime Minister Modi plans to visit Mongolia and South Korea next.
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