In a significant diplomatic development, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met on October 23rd on the sidelines of the BRICS Summit in Kazan, marking their first structured talks in nearly five years. The leaders endorsed the recent India-China agreement for maintaining peace along the Line of Actual Control (LAC) in eastern Ladakh, following heightened tensions arising from a fatal military clash in 2020. Modi emphasized the importance of managing differences and disputes carefully to uphold peace and stability in border regions. Both leaders agreed on reviving the stalled Special Representatives’ dialogue mechanism to address boundary issues. This move is seen as a pivotal step towards restoring mutual trust and ensuring long-term strategic and stable bilateral relations.
The Ministry of External Affairs highlighted the leaders’ discussions on enhancing strategic communication and cooperation to address developmental challenges. Modi later reiterated the significance of India-China relations for regional and global stability through a post on X, underscoring mutual trust, respect, and sensitivity.
Foreign Secretary Vikram Misri noted that both nations could foster a peaceful and mutually beneficial relationship by respecting each other’s sensitivities and interests. The meeting was welcomed as a positive move towards resolving the 2020 border issues.
Simultaneously, BRICS nations collectively agreed to escalate trade and financial dealings in local currencies, emphasizing the feasibility of an independent cross-border settlement infrastructure. The 16th BRICS Summit’s declaration encouraged reducing trade barriers and enhancing efficient, safe, and inclusive cross-border payments. The initiative aims to bolster economic ties among BRICS countries and their trading partners, advocating for the adoption of local currencies in financial transactions. This dual focus on regional stability and economic cooperation marks a crucial step in strengthening international partnerships and addressing shared global challenges.
Original Story https://theshillongtimes.com/2024/10/24/modi-xi-endorse-patrolling-pact-signal-efforts-to-repair-frayed-ties/
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Publish Date: 2024-10-24 03:34:00
