Four MOUs signed in India-China economic dialogue

India and China committed to improving macro-economic policy coordination, promoting exchanges on economic issues, and enhancing bilateral economic cooperation.

Who it concerns: The agreement involves the Republic of India and the People’s Republic of China. Specific entities named include the Planning Commission (India), National Development and Reform Commission (China), Ministry of Railways (both countries), Bureau of Energy Efficiency/Ministry of Power (India), National Association of Software and Services Companies (NASSCOM, India), and China Software Industry Association (CSIA, China). Sectors affected include trade, investment, finance, infrastructure (railways), energy, environment, and high-technology (IT/ITES).

What was agreed

• Agreement to conduct joint studies on planning cooperation and skills development.
• Agreement to exchange views and information on railway development, including high-speed rail and heavy haul.
• Agreement to enhance cooperation in energy efficiency projects through energy service companies (ESCOs) and develop testing protocols/standards.
• Agreement to enhance cooperation in Information Technology and ITES (IT/ITES) and explore common standards for digital TV, audio/video codecs, and mobile communication technology.
• Signing of four Memorandums of Understanding (MoUs) covering joint studies, energy efficiency, railway technical cooperation, and IT/ITES cooperation.
• Agreement to convene the 3rd Dialogue in China in 2013.

Also in the document

• Four specific Memorandums of Understanding were signed between government bodies and industry associations.
• The dialogue established five Working Groups: policy coordination, infrastructure, energy, environment protection, and high-technology.
• Specific focus areas include high-speed rail development, wind energy, and digital TV/mobile communication standards.