NEW DELHI, Dec. 16 (UPI) -- Leaders of China and India said Thursday they would move to increase bilateral trade 66 percent in the next five years.
Currently, bilateral trade between India and China amounts to about $60 billion per year, Press Trust of India reported.
On Wednesday, Wen announced that Chinese leaders had secured $16 billion worth of business contracts during a three-day visit to India.
The communication released Wednesday said, "The two sides agreed to take measures to promote greater Indian exports to China with a view to reduce India's trade deficit."
In the most recent figures, India runs a trade deficit with China of about $19 billion a year.
But Prime Minister Singh said, "There is enough space in the world for China and India to grow and fulfill the development aspirations of their people respectively."