New Delhi: Prime Minister Manmohan Singh told reporters on Monday that India and China have agreed on the need to expedite bilateral trade arrangement.
The PM, who Chinese Premier Wen Jiabao in the Philippines on the sidelines of India-ASEAN and East Asian summits met, briefed the reporters on the agreement on board his special aircraft.
According to a report in PTI, the Prime Minister stated that in the backdrop of decisions taken during Chinese President Hu Jintao's recent visit to India, the two leaders had explored ways to carry the process of interaction and cooperation forward.
The PTI report also states that a joint study group has been set up to examine regional trade agreement or free trade agreement with China and it is expected to finalise its recommendations soon.
On the boundary question, the PM said both sides felt the issue should be moved forward and the process of discussion on it "accelerated" in the light of the Agreement on Political Parameters and Guiding Principles.
On ASEAN, the Prime Minister said officials of India and the regional trading bloc have been directed to conclude talks on the Free Trade Agreement by July this year.
(With inputs from PTI)
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