Tuesday, August 16 2005 14:13 Hrs (IST) - World Time -

Guangzhou (China): An Apex body of Indian exporters today (Aug 16, 2005) signed a MoU with its Chinese counterpart in Guangzhou to boost bilateral trade and economic cooperation between the two Asian giants.

Under the agreement, Federation of Indian Export Organisations (FIEO), which has over one lakh Indian exporters as members, and China Council for the Promotion of International Trade (CCPIT) Guangzhou Sub-Council agreed to exchange regularly market information with a view to open up possibilities for greater trade exchanges.

Both sides also agreed to amicably resolve any dispute between the members.

The MoU, inked by Chairman of FIEO Northern Region R K Dhawan and President of the CCPIT Guangzhou Sub-Council Weng Wen Xiang, will also facilitate expansion of economic and industrial cooperation between enterprises on both sides.

"The FIEO has agreed to send trade missions to Guangzhou to participate in the annual Canton Fair which is one of China's largest trade fairs. FIEO will send trade delegations to the Canton Fair from next year," Dhawan said.

The MoU also states that if any disputes arise between members of the two sides, the parties should use their good offices to help resolve the disputes amicably.

Commenting on the MoU, Dhawan said it was a key agreement that would facilitate Indian exporters to seek more business opportunities in China.