Moscow is uniquely positioned to play the role of a neutral mediator to help the two countries reach an agreement on a LAC. Russia has been engaging with both militaries for decades and knows both sides well. It also enjoys a certain degree of confidence in both countries. It is hoped that both countries will find the common sense to use Russian mediation to resolve this issue. 21. Russia, India and China undertake to maintain a legal order for the seas and oceans, based on the principles of international law, as set out inter alia in the United Nations Convention on the Law of the Sea (UNCLOS). All related disputes should be resolved through negotiations and agreements between the parties concerned. In this context, the Ministers called for full compliance with all the provisions of the Convention, as well as the Declaration on the Conduct of Contracting Parties in the South China Sea (DOC) and the Guidelines for the Implementation of the DOCUMENT. In another tweet, the Global Times quoted analysts as saying that if “the China-India foreign ministers` meeting does not achieve a positive outcome or if the two sides fail to implement the front-line agreement, it could be a dangerous signal that China and India are unlikely to resolve the crisis peacefully.” One of the main outcomes of the joint statement is that the two sides respect all existing agreements and protocols on China-India border issues, maintain peace and calm in border areas, and avoid any measures that could aggravate the issue.
The Indian side told China that it expects all agreements related to border area management to be fully respected and stresses that Indian troops have scrupulously abide by all agreements and protocols related to border area management. 23. Ministers expressed their support for improving global economic governance in order to ensure healthy, stable and balanced growth in the global economy. They welcomed the implementation of the IMF`s quota and governance reforms in 2010 and called on the IMF to continue reforms to strengthen the voice and representation of emerging market and developing countries as soon as possible. Ministers reaffirmed their strong support for joint efforts to develop and strengthen an open, transparent, rules-based, non-discriminatory and inclusive multilateral trading system that contributes to growth, sustainable development and job creation in all sectors. They recognized the central role of the WTO in defining the universal rules and principles of international trade. Ministers welcomed the outcome of the 10th WTO Ministerial Conference, held in Nairobi, Kenya, on 15-18 December 2015, and pledged to continue to contribute significantly to progress towards advancing the WTO Doha Round negotiations. Ministers reaffirmed the need to ensure that bilateral and regional trade agreements continue to complement the multilateral trading system as enshrined in the WTO. In this context, they stressed the importance of ensuring transparency and openness of regional trade agreements. Ministers also stressed the need for cooperation within the WTO between all interested parties in order to ensure networking and harmonization of regional economic integration projects. .