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NEWS|Current Affairs 
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Beijing:India and China today agreed tostudy the possibility of setting up an economic corridorspanning the two nations and covering Bangladesh and Myanmar."Further discussions on concepts and alignment of theeconomic corridor are envisaged. Both India and China wouldcontinue to discuss with the other parties to this initiative,and hold the first BCIM Joint Study Group meeting in comingDecember to study the specific programs on building the BCIMEconomic Corridor," said a joint statement.The statement was issued after apex-level talks betweenvisiting Indian Prime Minister Manmohan Singh and ChinesePremier Li Keqiang.Pursuant to an understanding reached in May, India andChina have each established a study group on the BCIM[Bangladesh, China, India and Myanmar] Economic Corridor.The leaders, the statement said, recognised that Indiaand China are poised to enter a new stage of economicengagement based on pragmatic cooperation and mutuallyadvantageous policies and practices."They expected the Strategic Economic Dialogue during itsmeeting in November/December 2013 to work out specificprojects and initiatives in areas that have already beenbroadly agreed upon," it said.The Joint Economic Group, it said, will continue toexpand the bilateral economic cooperation and promote abalanced growth of bilateral trade.Singh, after meeting Li, said the Chinese Premier wasreceptive to his concern about the unsustainable trade balancebetween the two countries and they have agreed to exploreavenues to bridge this gap."We are taking forward the suggestion made by Premier Liin New Delhi for a Chinese industrial park to act as a magnetfor Chinese investment in India. We are also exploring thefeasibility of the Bangladesh-China-India-Myanmar EconomicCorridor connecting the two countries via the southern SilkRoad," he said.PTI

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