The world's top two most populous nations and largest potential markets have a historic opportunity for economic and social development, as declared by a joint statement issued during Premier Li Keqiang's visit to India. And the realization of this goal will advance peace and prosperity in Asia and the world at large.

As his first overseas trip since taking office, Li's visit to India is a reflection of the high importance China has attached to developing friendly and good-neighborly relations with New Delhi. And the publication of the joint statement after Li's talks with Indian Prime Minister Manmohan Singh which outlined political, economic, military and cultural cooperation, as well as collaboration on a wide range of important international and regional issues, highlights the togetherness of the two countries.

In the statement, the two countries reiterated the principles and consensuses that have been established for many years on the development of China-India relations and said they are devoted to further consolidating a strategic and cooperative partnership oriented toward peace and prosperity on the basis of the Five Principles of Peaceful Coexistence and mutual respect of each other's concerns and aspirations.

Emphasizing "there is enough space for the common development of China and India in the world" and "the world also needs the common development of China and India", the statement says the two countries welcome each other's peaceful development and that both Beijing and New Delhi regard each other as a mutually beneficial partner rather than a competing rival.

This consensus is necessary for the steady and healthy development of ties between the Asian giants, whose fast-growing economies over the past decades have led some to suggest that a head-on clash is unavoidable due to their increased aspirations to vie for world's limited resources and greater international influence. This consensus also demonstrates it is their common aspiration and resolve to overcome any short-term difficulties and barriers that lie in the way of healthy bilateral ties and they are taking a long-term and global view.

The world's two largest developing countries share a border, and a China-India relationship that is free of mutual hostility and misgivings will benefit the stability and development of Asia and even the world as a whole. As a matter of fact, the concept of peaceful coexistence and common development that China and India have been advocating in dealing with each other over the past decades has set a successful example for other neighboring countries to handle bilateral ties.

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