India and China have recently signed a memorandum of understanding for mutual benefit on roads and road transportation matters. The two sides have recognised the importance of roads and road transportation in the economic development process of each participant country, within their respective national policy framework.
Principles and Objectives of Cooperation
1. Under the framework of this Memorandum of Understanding (‘Memorandum’), the Participants will undertake cooperation on the basis of equality, reciprocity and mutual benefit.
2. The purpose of this Memorandum is to establish a long-term and effective relationship of communication and cooperation in Roads and Road Transportation.