India, Russia and China vowed to boost trade and investment with each other after a one-day meeting that saw officials and businessmen from the three countries gather in New Delhi over the weekend.
A top Indian foreign official admitted that the three countries needed to do much more to further economic links.
"Investment between these three countries is quite insignificant," said Nalin Surie on Saturday, according to a Press Trust of India (PTI) agency report.
"India, China and Russia have huge raw material and energy reserves. All three of us should come together to form a India-China-Russia business partnership," he said.
The Russian ambassador to New Delhi, Vyacheslav Trubnikov, said he looked forward to further investment in his country's energy resources by the energy-hungry Asian nations.
"The three of us can work together to promote joint ventures that could infuse more investments in oil exploration and production blocks in Russia, ensuring energy security in India and China," PTI quoted Trubnikov as saying.
But the countries vowed to work together in other arenas as well, including technology, pharmaceuticals and services, the Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement.
Chinese delegate Bu Jianguo (
Bilateral trade between China and India stands at US$25 billion while trade between China and Russia is double that.
Trade between India and Russia is at a mere US$4 billion, much of it focused on military spending.
Saturday's meeting marked the first joint gathering by the three nations on strengthening economic cooperation.
The next three-way conference will take place in China in 2009.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College