In his first interaction with his Chinese counterpart Yang Jiechi, External Affairs Minister S M Krishna on Wednesday reviewed the bilateral relations and expressed India's desire to broaden the multi-faceted partnership.
Krishna and Yang met on the sidelines of the ASEAN Foreign Minister's Summit in this resort island to review the bilateral ties.
The meeting between the two Ministers came ahead of the 13th round of border talks between India and China in New Delhi on August 7 and 8.
Describing the meeting as "useful" and "cordial", Krishna said he exchanged views with Yang on various issues and that "we reciprocated mutual desire to deepen the multi-faceted cooperation between the two countries."
"We also expressed satisfaction at the trade ties between the two countries which are estimated to touch USD 60 billion by next year," the External Affairs Minister said.
To a question, Krishna said India and China are competitors but there is enough space for both to grow. On whether the border issue was discussed during the talks, Krishna replied in the negative.
Yang said he was looking forward to the visit of President Pratibha Patil to China later this year.