LAC-stand-| Border actions are contrary to bilateral agreements, Rajnath Singh tells China 9In particular, China`s foreign trade amounted to $851 billion in 2003 and exceeded $1 trillion in 2004. In 2004, India`s foreign trade reached only about $180 billion. While the East Asian financial crisis had diverted Chinese trade to India, the counter-trends that followed India`s nuclear tests in May 1998 shifted India`s total foreign trade from $86.86 billion in 1998 to $81.84 billion in 1999. This overall decline, however, was not proportionally reflected in bilateral trade between China and India, although China may have been an area most directly affected by India`s nuclear tests (see Figure 1). 22 In international relations, transfers of financial capital are a relatively recent phenomenon compared to trade in goods and services. However, mutual investments always reflect greater mutual trust and give a great boost to bilateral trade, especially in the long term. And this is especially true when it comes to bilateral trade between China and India. However, as of now, the US is the largest investor and accounts for about 21% of India`s total FDI flows. Mauritius follows with a 12% share, but it is really a channel for investors from different countries, including the United States, due to a special tax deal with India, which grants an exemption from Indian taxes for companies based in Mauritius. The United Kingdom was then the third largest investor in India, followed by the Republic of Korea, Japan and non-resident Indians, which now account for about 4% of India`s total inflows.32 Signed in Beijing on 7 September 1993, available in the contract database of the Chinese Ministry of Foreign Affairs (AMF) in English, Chinese and Hindi. All three texts have the same validity.
A copy in English is also available in the UN Peacemaker database. According to a summary on the UN Peacemaker website, this agreement provides “the framework for border security between the parties until the final decision on border demarcation is taken.” The parties agree to “minimize the armed forces in areas along the Line of Effective Control” and to “reduce military personnel”, which are compatible with friendly and good relations between them. (Article 2) They also agree to implement confidence-building measures along the control of the LAC, including by pre-announcing “military exercises of certain levels close to the line of effective control authorised by this Agreement”. (Article 2) All commercial and non-commercial payments between the Republic of India and the People`s Republic of China may be made in Indian rupees or pounds sterling, as long as this is beneficial to both parties. In order to facilitate these payments, the People`s Bank of China opens one or more accounts with one or more commercial banks in India that have the right to trade currencies to be referred to as “A”. In addition, the People`s Bank of China will, if necessary, open another account with the Reserve Bank of India, called “B”. All payments between the two countries are made through account(s) “A”. Account “B” is only used to complete the credit in account(s) “N” whenever necessary. Payments made by residents of India to residents of the People`s Republic of China are made by crediting the amounts of such payments to the aforementioned “A” accounts. Payments made by residents of the People`s Republic of China to residents of India are made by debiting the aforementioned “A” account(s). The “A” accounts are, if necessary, replenished by one of the following methods: 4 In this context, with their rapidly evolving equations, this article seeks to make assumptions, as promised by their bilateral trade, the most effective instrument for solving their political difficulties and facilitating progress in the implementation of their strategic partnership for the future. .