India has said said it looks forward to strengthen its strategic partnership and mutual dialogue with China as the two sides held talks amid differences over a host of issues including the $50 billion CPEC and India's NSG membership bid.
India minister of state for external affairs V K Singh met China foreign minister Wang Yi on the sidelines of the BRICS foreign ministers' meeting being held in Beijing to finalise the agenda for this year's BRICS (Brazil, Russia, India, China and South Africa) summit to be held in September in China's Xiamen city.
They discussed steps to strengthen strategic relations on the directions laid down by prime minister Narendra Modi and Chinese president Xi Jinping during their meeting at Astana recently.
Wang referred to the fruitful and constructive meeting between Xi and Modi on the sidelines of Shanghai Cooperation Organisation (SCO) on June 8-9 at Astana.
In his opening remarks, Singh said that external affairs minister Sushma Swaraj wanted to visit Beijing but health and other restrictions did not permit her.
"She is looking forward to meet you," he said.
Xi and Modi have "laid down directions for us and both the countries to proceed with a path of mutual respect, mutual cooperation on how to improve the existing mechanisms so that more trade, commerce and people to people contacts can take place," Singh said.
"We both are Asian neighbours, two growing economies, people with ancient relations, we mark the path others to follow. India looks forward to strengthening and deepening its strategic partnership and mutual dialogue with China," he said, adding he looks forward for many interactions with Wang.
Singh avoided making any reference to differences between the two countries including India's sovereignty concerns over the controversial China-Pakistan Economic Corridor (CPEC), Beijing blocking India's entry into the strategic Nuclear Suppliers Group (NSG) besides a UN ban on Jaish-e-Mohammed (JeM) leader Masood Azhar.
India last month skipped China's high profile Belt and Road Forum (BRF) under which CPEC comes.
Beijing also opposed the visit of the Dalai Lama to Arunachal Pradesh which it considered as part of Tibet.
Officials said that both the governments are keen to find common ground on the contentious issues.
Singh later attended a banquet hosted by Wang for the Foreign Ministers of BRICS countries.
All the foreign ministers from the BRICS who would also call on Xi.
During the foreign ministers' meet, China is expected to outline the agenda for this year's BRICS summit which included efforts to seek common ground against terrorism.
The meeting is a precursor to chain of meetings of BRICS officials including the National Security Advisors (NSAs) meeting to be held later next month ahead of the summit.
China took over the rotating presidency of the BRICS from India after last year's Goa summit of the group of emerging countries.
China is also expected to outline its proposals for the BRICS summit.
At the Goa summit, India invited heads of the members of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) excluding Pakistan from the region.
Incidentally, this is the first time that the foreign ministers meeting has been called by a host country holding the BRICS Summit.
Veterinary practices ordered to publish price lists and disclose corporate ownership under new CMA proposals.
Pet healthcare costs have risen at nearly twice the rate of inflation, investigation finds.
CVS Group shares surge 18 per cent as market welcomes lack of direct price controls on medicines.
Watchdog pushes for price transparency
Britain’s competition watchdog has provisionally ordered veterinary practices to publish price lists and disclose corporate ownership, aiming to give pet owners greater transparency in a sector where costs have risen at nearly twice the rate of inflation.
The Competition and Markets Authority (CMA) said on Wednesday (15) that pet owners are often unaware of prices or not given estimates for treatments that can run into thousands of pounds.
Under the proposed measures, vet businesses must publish prices for common procedures and make clear which practices are independent and which belong to large corporate chains. The watchdog also plans to cap prescription fees and ban bonuses linked to specific treatments.
“We believe that the measures we are proposing would be beneficial to the sector as a whole, including vets and vet nurses,” the CMA stated in its provisional decision report. “Providing better information for pet owners will increase their confidence in vet businesses and the profession.”
Industry reactions
The announcement triggered immediate market reactions. Bloomberg reported Shares of CVS Group, a British veterinary services provider, rose as much as 18 per cent in early London trading before paring gains, whilst Pets at Home traded up to 4.9 per cent higher. Both companies had underperformed since the CMA launched its investigation.
“While the tone of the CMA’s report is sharp, we see few surprises versus our expectations,” said Jefferies analyst Andrew Wade to Bloomberg. “The lack of pricing controls on services notably medicines must be viewed as a positive.”
The veterinary profession offered cautious support for the reforms. Dr Rob Williams, president of the British Veterinary Association, said: “At first glance, there’s lots of positives in the CMA’s provisional decision that both vets and pet owners will welcome, including greater transparency of pricing and practice ownership."
However, animal welfare charities warned of the consequences when pet owners delay treatment due to cost concerns. Caroline Allen, the RSPCA’s Chief Veterinary Officer, told BBC “Our frontline officers sadly see first-hand the consequences when people delay or avoid seeking professional help, or even attempt to treat conditions themselves."
The proposed remedies package also includes requirements for vet businesses to improve complaint processes and conduct regular customer satisfaction surveys comparing large groups with independent practices. Additionally, practices would find it easier to terminate out-of-hours contracts with third-party providers if better alternatives exist.
The CMA emphasised that vet businesses failing to comply, or those pressuring veterinarians to act in certain ways or sell specific treatments, could be in breach of the Order.
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