China, which will be hosting Prime Minister Manmohan Singh for three days starting January 13, said it has a lot to learn from India in the field of information technology, and space and ocean sciences.
"India has made great achievements in the technologies related to information technology, space and ocean. It is specially worth mentioning that the software industry of India has taken a lead role in the world. We can learn a lot from our Indian counterparts in these areas," Chinese Vice-Minister for Trade Yi Xiaozhun said at a UNIDO seminar at Vienna.
Xiaozhun said China has emerged as India's second largest trading partner. With bilateral trade increasing by 50 per cent in calender year 2007, India is its 10th largest trading partner for China, he said.
During his visit, Manmohan Singh is likely to discuss ways with Chinese leaders to further step up trade and investment between the two countries.
While China is keen to negotiate a full-fledged free trade agreement with India, the Indian industry is opposing the proposal on apprehension that Chinese goods could flood the country. However, a joint study group is exploring the possibility of a preferential trade agreement.
In the backdrop of increasing importance of the two countries in the global economy, the United Nations Industrial Development Organisation (UNIDO) recently organised an Asia-Pacific Roundtable on "The China and India Factor: Implications for developing countries in Asia and the Pacific region" at Vienna.
The roundtable was attended by senior officials from the Department of Industrial Policy and Promotion and from the South Asia office of UNIDO, based in New Delhi.
The bilateral trade, which had reached 24.86 billion dollars in 2006, increased by 50.3 per cent to 17.19 billion dollars between January-June period of 2007.
UNIDO Director General had said in New Delhi that Asia continued to be the most dynamic region in the world.