Amid the booming India-China trade, entrepreneurs and experts from both sides on Wednesday discussed bilateral relations and the potential for increased cooperation under the World Trade Organisation framework, especially in industrial, scientific and technological areas.

At the forum on economic cooperation, held in South China's Shenzhen city, they also probed the vital role the two nations play in promoting cooperation in the South Asian region, the problems facing sustained development in developing nations, as well as environment issues.

Strategic alliances between enterprises of the two nations and using comparative advantages of both nations was also on the agenda, Xinhua news agency reported.

Trade volume between China and India, the two largest developing countries, did not match the economic development of the two nations, the experts said.

China's official statistics show that bilateral trade between the two nations exceeded $4.9 billion in 2002, up 37 per cent year-on year, and reached $5.3 billion during the first nine months of this year, up 54.8 per cent year-on-year. Bilateral trade is expected to reach $10 billion in 2005.

The forum was sponsored jointly by the China Shenzhen Comprehensive Development Research Institute, United Nations Industrial Development Organisation, Federation of Indian Chambers of Commerce and Industry, and the Indira Gandhi Research Institute.