Very bright perspective: China Chamber of Commerce VP Yu Lu on India-China trade ahead of Xi visit

Yu Lu, Vice President of the China Chamber of Commerce, says that the visit would give a boost to bilateral trade and called the outlook for India-China economic ties a very bright perspective. Speaking to ANI, Yu Lu said Xi's visit would be an exciting moment and expressed confidence that bilateral trade between India and China would increase following the Chinese President's visit and the BRICS Summit.

I think it's a very exciting moment and very exciting news for us. That means the bilateral trade will increase, I think, with the state visit of our President it will be increased so quickly, Yu Lu said.

She said bilateral trade in agriculture and food products had already witnessed growth, noting that China's trade with BRICS countries in the sector had increased by more than 20 per cent year-on-year between January and July, according to Chinese customs statistics.

Now, for the agriculture and food sector, because we are in charge of that, I already saw bilateral relationships and the bilateral trade just increase, she said.

Just in January we're talking about, among the BRICS, China this year is from January to July, according to Chinese customs statistics, China imported and exported among the BRICS. We are talking about agriculture and the food trade value increasing very fast, over 20 per cent of the year-on-year growth rate, Yu Lu added.

She said the upcoming state visit and BRICS Summit could further increase trade among BRICS members and contribute to healthier economic ties between China and India.

So, I think with this state visit and with the BRICS Summit...among BRICS countries, trade will be increased and very healthy. And also the bilateral trade between China and India will be very good. It's a very good, I think it's a very bright perspective for us, she said.

Yu Lu also highlighted efforts to promote Indian products in the Chinese domestic market, saying that the China Chamber of Commerce had been working closely with the Indian Embassy in China.

And also we did a lot of promotion in the domestic market in China in very close connection with your Embassy in China, she said.

She said the chamber had promoted Indian aquatic products and tea in China and expressed hope that such efforts would contribute further to bilateral trade.

For example, we do a lot of promotion of Indian aquatic products and also Indian tea. So, I hope, and I am looking forward to doing more, we can contribute much to that, Yu Lu said.

Chinese President Xi Jinping will attend the 18th BRICS Summit in the national capital from September 12 to 13, the Chinese Ministry of Foreign Affairs confirmed on Thursday, setting the stage for a closely watched India-China engagement on the sidelines of the major multilateral gathering.

According to a statement issued by the Chinese Foreign Ministry, President Xi will travel to India at the invitation of Prime Minister Narendra Modi for the summit.

India is hosting the 18th BRICS Leaders' Summit on September 12 and 13 at Bharat Mandapam, with the expanded grouping expected to deliberate on issues ranging from trade and financial cooperation to technology, artificial intelligence, energy security, climate action and reforms of global institutions.

Xi's visit is particularly significant, as it would mark his first trip to India since his informal meeting with Prime Minister Modi in Mamallapuram in 2019 for the 2nd India-China Informal Summit. The visit also comes against the backdrop of efforts by the two sides to stabilise bilateral ties following years of tensions along the Line of Actual Control.(ANI)