The bilateral trade in 2013-14 declined to USD 65.85 billion from a high of USD 74 billion in 2011.
The trade deficit stood at USD 35 billion in favour of China as against USD 39 billion in 2012-13.
Talking about state of Indian economy, Wang said economic reform was crucial for fueling the growth rate.
“Of course we look forward to reforms. Economic reform is in India’s interests. We can tell that Prime Minister Modi is pushing ahead with the reforms,” he said.
Asked about the boundary dispute, the Chinese Foreign Minister termed it as a “highly complicated” issue and said both sides will have to maintain peace and stability along the border areas till its resolution.
“This is something leftover from history. It is highly complicated. We have set up a complete set of dialogue and conversation mechanism. I hope that the two sides will make joint efforts to move towards the direction of resolving the boundary issue through cooperation,” he said.
Wang said both the countries had agreed not to let the boundary issues hamper the overall interests of the bilateral relationship.