PM Narendra Modi and President Xi Jinping meeting crucial for the stability of world trade order

Apr 24, 2018

FICCI President Rashesh Shah's Statement on Prime Minister Narendra Modi and Chinese President Xi Jinping's meeting on April 27-28

 

A stronger India-China ties, which is not in any direct confrontation with the US, is the need of the hour

NEW DELHI, 24 April 2018: The meeting of Prime Minister Mr. Narendra Modi and Chinese President Mr. Xi Jinping on April 27-28 in Wuhan is an opportunity for both the countries to discuss a roadmap for not only resolving the bilateral issues, but also the steps to ease pressure on the world trade due to the protectionist measures, especially by the US.

 

While China's increasing dominance in world trade has made its role extremely significant in defusing the possibilities of a global trade war, India has shown in the last few months that it can play the role of a facilitator for serious dialogues on this issue.

 

"It is quite encouraging that China has already indicated that positive results are expected on globalisation and the threat of rising protectionism from the meeting between Prime Minister Mr. Narendra Modi and President Mr. Xi Jinping," said Mr. Rashesh Shah, President, FICCI.

 

The very realisation of the fact that both the countries being the emerging markets with large population have common interests in world trade and they must work together to ensure that trade protectionism doesn�t prove to be a dampener in the global economic recovery can go a long way in bringing together the nations with diverse interests to work on moves that facilitate a stable world trade order, added Mr. Shah.

"Along with the understanding to work together in furthering global trade, PM Modi must also discuss with President Xi the greater opening of the Chinese markets for the Indian products," he said.