The Federation of Indian Chambers of Commerce and Industry on Wednesday signed two key memoranda of understanding with Beijing government as well as the elite Renmin University in Beijing to step up bilateral cooperation on the investment and research fronts.
Under the MoU between FICCI and Beijing Investment Promotion Bureau, the two sides agreed to strengthen collaborations and enhance economic, investment and trade relations.
The two sides have agreed to set up a bilateral working group, which will communicate on a regular basis and meet at least once every three months to coordinate and support bilateral cooperation in the areas of mutual interest, FICCI president, Saroj Kumar Poddar said.
FICCI and BIPB have agreed to organise and support activities, including high-level visits, business and trade promotional activities, seminars in India and in Beijing to promote trade and investment, he said.
The two sides agreed to facilitate the exchange and sharing of information and publications ranging from trade statistics, published directories, industry reports and economic policies pertaining to India and Beijing.
Commenting on the significance of the MoU, vice mayor of Beijing, Sun An Min told reporters the agreement would go a long way in addressing the information gap that exists between the two sides and will promote bilateral trade and economic relations.
FICCI's Research Centre and Renmin (People's) University of China (RUC), a comprehensive research-oriented institution, also inked an MoU with the aim of establishing academic link between them and to pursue strategies on change, development and growth.
Under this, the two sides have set up a joint working group to formulate actionable strategies for achievement of their objectives, Poddar said.
The two sides will exchange information on general economic environment in their respective countries and other subjects of common interest.
FRC and RUC will partner in research projects and jointly carry out research studies that make tangible impact on economic strategic policies of India and China towards furtherance of their economic relations.
The two sides will cooperate in organising seminars and workshops for business representatives.
Commenting on the MoU, dean of RUC, Wen Tiejun said the agreement would enhance cooperation between researchers of the two countries to know more about each other and exchange ideas to tackle problems faced by India and China.
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