PM Modi, Xi discuss ways to enhance bilateral trade deficit

Foreign Secretary Vijay Gokhale said the two leaders discussed ways to enhance bilateral trade and India's trade deficit with China on the first day of their second informal summit in Mamallapuram. He said that Prime Minister Narendra Modi and President Xi Jinping on Friday discussed trade-related issues and economic issue. They also talked about the challenges posed by terrorism and radicalisation to the two countries.

Mamallapuram (Tamil Nadu):Prime Minister Narendra Modi and Chinese President Xi Jinping on Friday discussed ways to enhance bilateral trade and India's trade deficit with China on the first day of their second informal summit in Mamallapuram.

Addressing the media, Foreign Secretary Vijay K. Gokhale said the two leaders held detailed discussions on their national visions as well as their government's priorities.

He said there were some discussions on trade-related issues and economic issues.

"They also spoke about other developmental priorities. In particular, there was some discussion on trade-related issues, on economic issues, on trying to identify areas of investment that the two countries could encourage and how to enhance trade volume and trade value. This obviously included the issue of trade deficit that exits and the unbalanced trade that exists, Gokhale said.

He said the Prime Minister explained that having been recently re-elected to a second term, he had received a renewed mandate for economic development.

He added that the two leaders discussed the challenges they face on account of terrorism and said both would work together to see that radicalisation and terrorism do not affect the fabric of Indian and China's multi-ethnic, multi-cultural and multi-religious societies.

"Some of the other topics included the challenges that both countries face on account of terrorism. There was an acknowledgment that both countries are very complex, they are very diverse. Both leaders said these were large countries and that radicalisation was a matter of concern to both and that both would work together to see that radicalisation and terrorism do not affect the fabric of our multi-ethnic, multi-cultural, multi-religious societies," he said.

He further added, "There was a general sense that both leaders had that this was a common challenge we face and we will work together to overcome it."

Gokhale said the discussions on Friday focused on the national visions and how to progress bilateral relations.

"Tomorrow's discussions, where they will be continuing one-to-one meetings, will focus on international issues and regional issues and though the two leaders free to discuss all other issues as well," he said.

It is the second informal summit between Modi and Xi. The first informal summit was held in Wuhan last year.