Courtesy: Ministry of External Affairs, India
The recently concluded BIMSTEC summit is now a regional intergovernmental organization with a formal charter, giving it a clear mission and legality and a destiny linked to South and South East Asia. It is now better equipped to accelerate economic development for the fifth of the world’s population, which contributes only 4% of global GDP.
Courtesy: Flickr/CreativeCommons
In the coming decade, India and China are set to achieve a historic $100 billion bilateral trade volume. But India’s concerns over growing trade imbalances and market access need to be addressed so that the two neighbouring economies can forge a more sustainable and mutually beneficial partnership