A cooperation memorandum has been signed Monday in Shanghai between the Shanghai Consultation Center for the World Trade Organization (SCCWTO) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
According to the memorandum, both sides will mainly exchange views on world trade policies within the framework of the World Trade Organization (WTO) and discuss cooperation in macroeconomic fields.
They will also jointly explore issues relevant to the guarantee of developing countries' interests in the world economy and serve as a conduit to smooth cooperation between their enterprises.
Representing the interests of 250,000 industrial and commercial enterprises whose total employees number around 20 million, FICCI is a national organization with a wide impact on India's domestic economy.
Affiliated to the Shanghai Municipal government, the SCCWTO aims to help government and local enterprises better understand the WTO rules and expand international cooperation within the Yangtze River Valley.
As China and India both have large populations and great development potential, both sides believe that such a teaming-up will propel the common development of their countries.
(People's Daily May 14, 2002)
