Kazan, Oct 23: Prime Minister Narendra Modi and Chinese President Xi Jinping Wednesday endorsed the India-China agreement on patrolling and disengagement along the Line of Actual Control (LAC) in eastern Ladakh and issued direction to revive various bilateral dialogue mechanisms, signalling attempts to normalise ties that were hit by a deadly military clash in 2020.
In the nearly 50-minute meeting held on the sidelines of the BRICS Summit here, Modi underscored the importance of properly handling differences and disputes and not allowing them to disturb peace and tranquility in border areas and that mutual trust, mutual respect and mutual sensitivity should remain the basis of the relations.
In their first structured talks in nearly five years, Modi and Xi also instructed the revival of the stalled Special Representatives’ dialogue mechanism on the boundary question at an early date, holding that it can play a critical role in the maintenance of peace and tranquillity along the frontier.
The two leaders underlined the need to progress bilateral relations from a strategic and long-term perspective, enhance strategic communication and explore cooperation to address developmental challenges, according to the Ministry of External Affairs (MEA).
Following the talks, Modi posted on ‘X’: “India-China relations are important for the people of our countries, and for regional and global peace and stability. Mutual trust, mutual respect and mutual sensitivity will guide bilateral relations.” Foreign Secretary Vikram Misri, at a media briefing, said both Modi and Xi stressed that India and China can have a “peaceful, stable and beneficial bilateral relationship” with maturity and wisdom, and by showing mutual respect for each other’s sensitivities, interests, concerns and aspirations.
Referring to New Delhi’s consistent position on the eastern Ladakh row, Misri said restoration of peace and tranquillity in the border areas will create space for returning towards the path of normalisation of bilateral relations between the two sides.
“This meeting happened, as you are all aware, close on the heels of the disengagement and patrolling agreement and the resolution of issues that had arisen in the India-China border areas in 2020,” he said.
“Naturally, the two leaders welcomed the agreement reached between the two sides through sustained dialogue over the last several weeks in diplomatic as well as military channels,” he added.
The two leaders also reviewed the state of bilateral relations from a strategic and long-term perspective, Misri said.
“They were of the view that stable bilateral relations between India and China, the two largest nations on earth, will have a positive impact on regional and global peace and prosperity,” he said.
The ties between the two Asian giants nosedived significantly following the fierce clash in the Galwan Valley in June 2020 that marked the most serious military conflict between the two sides in decades. (PTI)
BRICS nations agree to boost trade, financial settlement in local currencies
Kazan, Oct 23: BRICS nations on Wednesday agreed to strengthen trade and financial settlement in local currencies, study feasibility of an independent cross-border settlement and depositary infrastructure, and a BRICS reinsurance company.
In the declaration issued after the 16th BRICS Summit here, the countries said, “We recognise the widespread benefits of faster, low cost, more efficient, transparent, safe and inclusive cross-border payment instruments built upon the principle of minimizing trade barriers and non-discriminatory access. We welcome the use of local currencies in financial transactions between BRICS countries and their trading partners.” (PTI)