Xi sets commercial terms for engagement with India

Xi sets commercial terms for engagement with India

A day before, Prime Minister Modi met Chinese President Xi Jinping on the sidelines of the 17th Shanghai Cooperation Organisation (SCO) summit and discussed bilateral relations where the latter pointed out that the worldwide environment was undergoing profound and complex changes.

Speaking at the Shanghai Cooperation Organization summit in Kazakhstan's Astana, Modi said it required concerted efforts to rein in radicalisation, terrorist recruitment and terror financing issues.

Terrorism is a "main threat" to the security of the Shanghai Cooperation Organization (SCO) member states, Russian President Vladimir Putin said on Friday.

Xi also said that China and India should increase trade and investment cooperation to ensure that the two countries were able to enjoy more "early stage profits" from large scale projects in infrastructure and industry.

Prime Minister Modi also held bilateral meetings with other leaders including Uzbekistan President Shavkat Mirziyoyev.

"We have extensive cooperation with SCO nations. We will stand by Afghanistan and will work with Afghanistan in this respect", said Putin.

Modi said that the SCO will help in bringing peace in war-torn Afghanistan.

The reason for the boycott was India's concerns over the $50 billion China-Pakistan Economic Corridor, a project under the Belt and Road Initiative (BRI), headed by Chinese President Xi, and which passes via Pakistan-occupied Kashmir (PoK). He also thanked SCO countries for granting membership to India.

India and Pakistan were admitted as observers in 2005 and began the administrative process of joining the organisation, which began in 2001 in Shanghai, in 2015. China had hosted dozens of world leaders in her capital for the summit.

Prime minister Nawaz Sharif said the SCO gave the members states a platform for shared prosperity and connectivity and to overcome terrorism and extremism, poverty, unemployment, tackle climate change and water security. The killing of the Chinese citizens vindicated the issues of terrorism raised by Modi in his speech at the SCO.