India, China sign trade agreements

India and China signed several bilateral trade agreements in Beijing on Monday. Indian PM Manmohan Singh and his Chinese counterpart Wen Jiabao issued a joint statement, which is called a shared vision of the 21st century. Significantly, India and China have agreed to a civil nuclear cooperation between the two countries.

According to mutual understandings reached between the two countries, China will support India's aspirations to play a greater role in the United Nations, including its demand for a permanent seat in the UN Security Council. In return, India has assured China that it would continue to abide by its one China policy.

Bilateral trade between India and China is expected to reach $60 billion by 2010. The previous target was $40 billion. According to the Indian PM, a high-end business forum will be created to facilitate trade between India and China. Reports suggest that India's Jet Airways would be allowed to use Shanghai as a transit hub.