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"India has made great achievements in the technologies related to information technology, space and ocean. It is specially worth mentioning that the software industry of India has taken a lead role in the world. We can learn a lot from our Indian counterparts in these areas," Chinese Vice-Minister for Trade Yi Xiaozhun said at a UNIDO seminar at Vienna.
Xiaozhun said China has emerged as India's second largest trading partner. With bilateral trade increasing by 50 per cent in calender year 2007, India is its 10th largest trading partner for China, he said.
During his visit, Manmohan Singh is likely to discuss ways with Chinese leaders to further step up trade and investment between the two countries.
While China is keen to negotiate a full-fledged free trade agreement with India, the Indian industry is opposing the proposal on apprehension that Chinese goods could flood the country. However, a joint study group is exploring the possibility of a preferential trade agreement.
In the backdrop of increasing importance of the two countries in the global economy, the United Nations Industrial Development Organisation (UNIDO) recently organised an Asia-Pacific Roundtable on ‘The China and India Factor: Implications for developing countries in Asia and the Pacific region’ at Vienna.
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