China, India ready to tap relationship's potential

History can be made in a moment, especially when two of the world's most populated nations are determined to do so.

As Chinese Premier Li Keqiang and Indian Prime Minister Manmohan Singh shook hands in Beijing and cheered exchange of visits, the two Asian giants have come to a common view of facing up to the future, rather than looking back.

Both premiers hold a clear vision about where the biggest potential of China-India relations lies and are committed to realizing the global prominence of the strategic partnership.

"China-India relations have gone far beyond bilateral scope and have global and strategic significance," Chinese President Xi Jinping said during his meeting with Singh.

"When India and China shake hands, the world notices," the Indian prime minister responded.

The two sides vowed to strengthen coordination and cooperation in multilateral forums including China-Russia-India, the BRICS and G20.

As two emerging economies that accommodate more than one-third of the world's population, both China and India are working on a new set of rules that will not only lay a smooth track for bilateral ties, but also help reshape the world.

And they do have the potential for success. In 1954, the prime ministers of China and India issued a joint declaration to officially designate the Five Principles of Peaceful Coexistence (Panchsheel) as guidelines for bilateral relations. These principles have been widely recognized as norms of international relations over the past six decades.

In a joint statement released on Wednesday, the two sides reaffirmed to maintain the friendly relationship by following the principles and "displaying mutual respect and sensitivity to each other's concerns and aspirations."

In a bid to build greater trust and confidence, China and India signed a Border Defence Cooperation Agreement in Beijing on Wednesday. Both sides hailed the agreement as a powerful tool to maintain peace and tranquility on the border, a "foundation" for the growth of China-India relationship.

In move that may change the geo-political map in Asia and the world, China and India decided to move ahead with preparation for the BCIM Economic Corridor that compasses Bangladesh, China, India and Myanmar. China expressed readiness to step up investment, railway construction and industrial zone development in the region.

A Chinese Foreign Ministry official said the agreements signed during Singh's visit involve many long-term projects that will contribute to regional and world peace, and stability for the next two or three decades.

The flow of funds, goods and people through the maritime Silk Road across the sub-continent will be identical to what happened in history, a precedent from which the two ancient countries draw wealth and strength for current cooperation.

To enhance friendship and understanding between the two peoples, China and India agreed to launch a series of joint events, including a Year of Friendly Exchanges, sister-city relationships and commemoration of the 60th anniversary of the Panchsheel. The seed of friendship sown today will bear fruit in coming generations. Such long-term initiatives demonstrate the vision and wisdom that the two ancient cultures share in building their future in a changing world.

The all-round improvement in political trust, practical cooperation and people-to-people contact cast light on the prospect of China-India relations -- The two most dynamic economies in the world roll ahead side by side at a more coordinated pace and in constructive competition. And a peaceful, cooperative China-India relationship is bliss for Asian resurgence and global prosperity and stability.