China for closer ties

Close on the heels of Prime Minister Manmohan Singh8217;s call for a pan-Asia FTA, the Chinese commerce minister, Bo Xilai today called for greater co-operation between the two Asian giants and said that the two could play an important role in ushering in the Asian century. 8216;8216;There is an underlining need for closer co-operation between the two countries. Our trade levels have touched the 18.7 billion mark but this can be further improved. Closer co-operation between the two countries will set the tone for the beginning of the Asian century,8217;8217; Xilai said.

China8217;s bilateral trade with countries like the US, Japan and Europe stands close to over 170 billion.

Stressing on greater co-operation between the two countries on the economic front, Xilai said that Chinese entrepreneurs have a lot to learn from Indian business houses in areas like IT, software development, education and services sector development while India could take a leaf out of China8217;s achievements in infrastructure development. 8216;8216;China does not enjoy cutting edge in the manufacturing sector and we will continue to learn the best practices in the area from countries like India,8217;8217; he said.