Key take-aways :
1. President Xi accepts Modi's invitation
- The Chinese side conveyed that they accepted PM Modi's invitation to President Xi Jinping to have a Wuhan-like informal summit in India in 2019.
2. 'Bilateral trade target of $100 billion by 2020'
- President Xi Jinping suggested Prime Minister Narendra Modi that the two countries set up a new bilateral trade target of $100 billion by 2020.
- The two countries had earlier set a bilateral trade target of $100 billion by 2015.
- The India-China bilateral trade reached $84.44 billion last year.
3. India and China ink 2 MoUs
- China has agreed to provide India hydrological data of the Brahmaputra River in flood season, months after Beijing stopped the practice, crucial to predict floods.
- The agreement enables China to provide hydrological data in flood season from May 15 to October 15 every year. It also enables the Chinese side to provide hydrological data if water level exceeds the mutually agreed level during nonflood season. China, an upstream country, shares the scientific study of the movement, distribution and quality of water data for the river.
- Last year, China had stopped sharing data soon after the 73-day long stand-off between Indian and Chinese troops at Dokalam over Chinese military's plans to build a road close to India's Chicken Neck corridor connecting North-Eastern states.
- The two countries also signed an agreement under which China has agreed to import non Basmati rice from India which is likely to bridge the ballooning trade deficit to a certain extent
- The 2006 Protocol on Phytosanitary Requirements for Exporting Rice from India to China has been amended to include the export of non Basmati varieties of rice from India. At present, India can only export Basmati rice to China.