International Relations- India's Economic co-operations

India and China today pledged to deepen economic and commercial ties and create environment for promoting investment to the mutual benefit of the two nations. As many 11 agreements, entailing investment of $5.2 billion, were inked here during a day-long 2nd India-China Strategic Economic Dialogue. With a view to promote greater economic and commercial engagement, the two sides have agreed to improve trade and investment environment, remove market barriers and deepen business co-operation, said the minutes of the meeting between Planning Commission Deputy Chairman Montek Singh and China's National Development and Reform Commission Zhang Ping.

India and China also agreed to enhance transportation links, encourage greater bilateral investments and work towards achieving a more balanced and sustainable bilateral trade. India and China would look at the possibility of initiating pilot projects in different sectors such as water treatment. Commenting on the success of the dialogue, he said, "I think from the size of Chinese business delegation, they brought around 180 people, it is clear that there is great deal of business interest in business collaboration from both sides".

The Organisation for European Economic Cooperation (OEEC) was established in 1948 to run the US-financed Marshall Plan for reconstruction of a continent ravaged by war. By making individual governments recognise the interdependence of their economies, it paved the way for a new era of cooperation that was to change the face of Europe. Encouraged by its success and the prospect of carrying its work forward on a global stage, Canada and the US joined OEEC members in signing the new OECD Convention on 14 December 1960. The Organisation for Economic Co-operation and Development (OECD) was officially born on 30 September 1961, when the Convention entered into force.

Other countries joined in, starting with Japan in 1964. Today, 34 OECD member countries worldwide ...