India and China held Sixth Financial Dialogue

Sep 29, 2013 13:33 IST

India and China held sixth Financial Dialogue in Beijing. The annual dialogue was held on 25 and 26 September 2013 ahead of Prime Minister Dr. Manmohan Singh's proposed visit to Beijing in October 2013. During this Dialogue, the two sides held in-depth discussions on new challenges facing the global economy, macro-economic situations and policies in China and India, progress on structural reforms in both countries, cooperation under multilateral frameworks as well as bilateral financial cooperation. Both nations agreed to strengthen regular communication and coordination at various levels on macro-economic policies and major international economic and financial issues. Both sides agreed to strengthen regular communication and coordination at various levels on macro-economic policies and major international economic and financial issues.

At the end of the dialogue they issued a joint statement which called for early conclusion of IMF quota reforms. The statement stated that the two nations agreed to intensify cooperation with other BRICS nations to push for reforms in international institutions. They will also work for implementation of the commitment to implement IMF Quota and Governance Reforms. Both nations agreed to work together to promote the implementation of the important consensus reached in the G-20 St. Petersburg summit, strengthen the momentum of global recovery, push for faster economic growth, generate better jobs, and build on the foundation for long-term growth.

Both nations agreed to hold the 7th India-China Financial Dialogue in 2014 in New Delhi.

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