September 1, 2011 6:48 PM

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India-China to hold first Strategic Economic Dialogue

Planning Commission Deputy Chairman Montek Singh Ahluwalia will head a high-level team to Beijing later this month for the first India-China Strategic Economic Dialogue to double bilateral trade to 100 billion US dollars by 2015.Official sources said in New Delhi on Thursday that the two countries will aim to enhance macro-economic policy coordination, promote exchanges and join hands to address issues and challenges in the economic development.The meeting will also seek ways to encourage mutual investment among businesses of the two sides, apart from divising mechanisms that can handle trade and economic frictions and differences in a manner that protects each other's interests.Sources added that China has also agreed to promote greater imports from India to balance their trade deficit with steps such as support for participation of Indian teams in the Chinese trade fairs and enhancing ties in areas like drugs, IT and agro industries.During the two-day visit starting September 26, Ahluwalia will hold talks with Zhang Ping, head of China's National Development and Reform Commission, which is China's equivalent of the Planning Commission of India.AIR Correspondent reports that the decision to establish the dialogue, on the lines similar to the one Beijing has with Washington, was taken during the talks between Indian Prime Minister Manmohan Singh and his visiting Chinese counterpart Wen Jiabao held in December last year.

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