April 12, 2011 5:12 PM

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PM says India's relationship with China acquired global significance

The Prime Minister Dr.Manmohan Singh arrived in the Chinese city of Sanya this evening to participate in the third summit of the BRICS nations of Brazil, Russia, India, China and South Africa. In a statement before his departure on a five-day visit to China and Kazakhstan, Dr. Singh said, coordination among the BRICS countries will work to the advantage of the grouping. The key areas of coordination include sustainable development, balanced growth, energy, food security and reform in the international financial institutions besides balance of trade.Dr. Manmohan Singh said, he is looking forward to his meeting with the Chinese President as the relationship has acquired global significance. He will hold bilateral talks with Hu Jintao on political affairs, trade and security on the side lines of the summit. During the meeting stapled visa issue and the resumption of defence exchanges are likely to figure. The two fastest growing economies of the world will focus on enhancing bilateral trade. It will be among the priorities amid India's concerns about the increasing trade imbalance between the two neighbours. At the BRICS summit, its leaders will discuss their concerns on the international situation, financial development and security issues and outline future cooperation. The situation in Libya and some other countries in the North African region, causing volatility in oil supplies and prices, is also expected to be discussed at the Sanya summit.AIR correspondent Vijay Raina covering the Prime Minister's visit reports, the leaders will discuss and understand each others' viewpoints on the international financial and economic situation, inflation that is affecting several countries and volatility in currency rates. Dr. Manmohan Singh will be in Sanya for three days and will also hold bilateral talks with the Presidents of Russia, Brazil and South African.The Prime Minister will fly to Kazakhstan capital Astana, on Thursday to hold talks with the President Nursultan Nazarbayev. Dr. Manmohan Singh said, he will build upon the successful visit of the Kazakh President to India in 2009 to enhance partnership in trade and investment. With the focus on energy and trade, India and Kazakhstan are expected to sign at least six agreements, including one on civil nuclear cooperation. The two sides will ink an inter-governmental framework pact on non-military atomic cooperation.

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