Prime Minister Narendra Modi and Chinese President Xi Jinping on Saturday agreed to put in place a new mechanism relating to trade and investment and felt the two countries should cooperate in important regional and global issues. India’s Foreign Secretary Vijay Gokhale said a new mechanism will be set up for issues relating to trade and investment. President Xi has assured that India’s concerns over Regional Comprehensive Economic Partnership (RCEP) will be discussed. Both Modi and Xi stressed the need for rules-based global trading system. Chinese President Xi and Prime Minister Modi said the two countries need to look to the future. The two leaders agreed that both countries should work together to deal with the challenge of terrorism, Gokhale said. Replying to a query, he said Kashmir issue was not raised and discussed at the informal summit. Prime Minister Modi had around five-and-half hours of one to one dialogue with Chinese President Xi Jinping spread over two days on Friday and Saturday. It was followed by delegation level talks. President Xi has said that China is ready to take concrete measures to reduce trade deficit with India, Vijay Gokhale told reporters at a briefing on the outcome of the second informal summit between the two leaders in Mamallapuram near Chenai.Building on the ‘Wuhan spirit’, the prime minister spoke of “Chennai connect” for a new era of cooperation between India and China and the need for enhancing defence cooperation, Gokhale said.
Earlier before the commencement of the delegation level talks, Prime Minster Modi said
Chennai Connect’ begins a New Era of Cooperation in India-China relations. He said the 2nd Informal Summit between India and China at Mamallapuram has begun a “New Era of Cooperation” between the two nations.PM Modi said two countries at Wuhan last year has brought in an “increased stability and fresh momentum in our relations.”Strategic communication has increased between the two countries. We have decided that we would prudently manage our differences without letting them turn into disputes, that we would be sensitive to each other’s’ concerns and that our relations strive towards World Peace and stability.”At the Mamallapuram, Summit we have so far had great exchange on bilateral and global issues. The Wuhan Summit has given a new momentum to our bilateral relations. Today with our Chennai Connect a new era of cooperation has begun in the relations of our two countries” and “he thanks President Xi Jinping for coming to India for the second Informal Summit.