India and China have agreed in principle to work out a mechanism to consult and coordinate on border affairs and resume full scale defence exchanges. Briefing reporters after the meeting between the Prime Minister Dr. Manmohan Singh and the Chinese President Hu Jintao, the National security advisor Shivshankar Menon said that this official border mechanism will ensure cooperation in border areas. He said that they will work as per the agreements signed between the two countries in 1993 and 1996.He however said that the special representatives of the two countries will continue their dialogue on border issue and next round of talks will be held in Delhi.Mr. Menon said it was decided to start Defence exchanges again and a multi command Indian army team will visit China later this year. High level defence exchanges were suspended after China refused visa to a high ranking officer of northern command last year.Mr. Menon said that while there was satisfaction over the growing trade ties between the two countries as they are set to achieve the trade target of 100 billion US dollars by 2015. The two countries are soon having economic dialogue to enhance trade and economic partnership. National Security Advisor said that the issue of trade imbalance was taken up in the meeting and many measures are being taken to reduce the gap that is tilted in favour of China. He said that Prime Minister took up the issue of market access to Indian pharma, IT, agro industry and engineering sector and this opening will also help in reducing the trade gap.Mr. Menon said that the two leaders launched year of India China exchange and many high level visits will take place during the year. He said that both the leaders extended invitations to each other to visit each others countries and both Dr. Singh and HU Jintao accepted the invitation. He said it was also agreed that people to people contact will be strengthened.Giving details about the meeting the Prime Minister had with the Russian president, Mr. Menon said that the two countries underscored the need to reexamine the nuclear safety and execute it jointly. He added that the two leaders asserted that it is important to sea what measures can be taken internationally apart from Internal procedures being followed by the two countries.This is important in the wake of recent crises at a nuclear plant at Fukushima in Japan. The two leaders reviewed the whole gamut of bilateral relations and focused on cooperation in the Hydrocarbon sector. AIR correspondent covering the Prime Minister’s Visit reports that the trade ministers of the five countries finalized their recommendations for the BRICS Summit tomorrow. After the bilateral meeting was over president of China Hu Jintao said that China and India are important neighbors to each other and both are emerging economies. He added that Relations between the two countries are healthy and there is a stable development momentum since April 2010. The president Hu Jintao said exchanges and cooperation in various arenas between the two countries have been deepening continuously and the two sides have maintained close communication and coordination on global issues of great significance. He emphasized on maintaining high-level exchanges between India and china and to enhance political mutual trust. Earlier in his opening remarks the Prime minister Dr. Manmohan Singh said that New Delhi is keen to expand areas of cooperation with china. He reaffirmed India’s commitment to strengthen economic and strategic partnership intensely and in every possible way with china.