India, China should step up 2 way investment

Chinese ambassador to India Zhang Yan said both countries should step up 'two-way investment' and create a sound environment for mutual economic cooperation and growth. 'Two-way investment needs to be stepped up. More Chinese companies are now showing interest in investing in India,' pti reported quoting Zhang Yan while inaugurating an India-China centre in Pune in Maharashtra state set up by US-based non-profit organization Bridging Nations. Hailing the initiative to promote Indo-China cooperation, Yan said trade volume between the two countries was increasing substantially and noted that the 'powerhouse of world economy (India and China) had withstood the European debt as well as the US financial crisis.' He said both countries had set a bilateral trade target of USD 100 billion to be achieved by 2015. The ambassador said notwithstanding 'historical issues' between the two countries, they were committed to an expanding bilateral relationship which was more 'mature' at present. It is important to focus on common interests rather than the differences, he added. Yang also called for a greater 'people to people' interaction in various fields in addition to a strategic dialogue on defence and security issues to further increase mutual trust between the two Asian powers.