Apart from signing an agreement on border defence cooperation, India and China have agreed to study the possibility of setting up an economic corridor BCIM (Bangladesh, China, India and Myanmar) covering two other regional nations Bangladesh and Myanmar.
Amidst Prime Minister Manmohan Singh's China visit a Joint Statement - A Vision for Future Development of China-India Strategic and Cooperative Partnership was issued. Pursuant to the understanding reached between the two leaders in May 2013, China and India have each established a Study Group on the BCIM Economic Corridor and the first BCIM Joint Study Group meeting will be held in the upcoming December “to study the specific programs” on the building of the corridor.
The apex-level talks between Manmohan Singh and Chinese Premier Li Keqiang expected the Strategic Economic Dialogue during its meeting in November/December 2013 to work out specific projects and initiatives in areas that have already been broadly agreed upon.
Earlier, Manmohan Singh has raised his concerns about the unsustainable trade balance between the two countries and they have agreed to explore avenues to bridge this gap. Bilateral trade with China touched $66.5 billion last year, of which China’s exports to India was about $ 47.7 billion.
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