India and China are expected to further their cooperation in the energy sector during Indian Petroleum Minister Mani Shankar Aiyar's visit to China on Jan. 12, the minister said Tuesday in New Delhi.

India and China have emerged as significant consumers of hydrocarbons over the last few years.

"Market will dictate competition among the companies from the two countries at sometime but there would be opportunities where it might be in the interest of both parties to cooperate and submit joint bids," Aiyar said.

Aiyar described the two-day visit, which coincides with the Year of Friendship being observed by the two countries, as " beginning of a new chapter in India-China relationship."

While briefing the media on his visit, the minister said he will sign with the Chinese side a Memorandum of Understanding (MoU) on hydrocarbon cooperation.

In April 2005, in a joint statement issued in New Delhi at the end of Chinese Premier's visit to India, cooperation in the energy sector was set out as priority between the two nations.

The visit will be part of the efforts at exploring and giving concrete shape to the desire of cooperation that has been articulated throughout last year.

Source: Xinhua