China, India to reopen historic trade route | Latest News India - Hindustan Times
close_game
close_game

China, India to reopen historic trade route

None | ByPress Trust of India, Beijing
Jun 19, 2006 01:04 PM IST

The pass, which would open on July 6, 44 years after it was closed, will give a major boost to the local economies.

India and China have reached a historic agreement to resume border trade through the strategic Nathu La pass from July 6, 44 years after its closure.

HT Image
HT Image

The reopening of Nathu La pass would give a major boost to the local economies of the land-locked mountainous regions of the two Asian giants and would promote bilateral trade.

Hindustan Times - your fastest source for breaking news! Read now.

The delegations of the two sides reached agreement late on Sunday night, an official source from Lhasa said.

The agreement allows residents living on the border areas of the two countries to trade nearly 30 items mentioned in the border trade agreements of 1991, 1992 and 2003.

The items include agricultural implements, food grains, blankets, agro-chemical products, dry fruits, beverages, canned food etc.

"The resumption of border trade is a great historic event, not only for enlarging trade, but also for greater relations between the two countries," additional secretary of the Department of Commerce Christy Fernandez, who headed the Indian delegation, said.

"The reopening of border trade will help end economic isolation in this area and will play a key role in boosting market economy," Vice Chairman of the Tibet Autonomous Region Hao Peng, who led the Chinese delegation, said.

"It will also boost the transportation, construction and service industries, paving way for a major trade route that connects China and south Asia," he said.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On