Brasilia: Prime Minister Narendra Modi on Wednesday (local time) held bilateral talks with Xi Jinping on the sidelines of the 11th BRICS Summit here, wherein the Chinese President invited the former for the third informal summit in China in 2020.

The two leaders exchanged views on multilateral issues including WTO, BRICS, and RCEP, apart from reviewing preparations for celebrating the 70th anniversary of the establishment of diplomatic relations between India and China, next year, aimed at enhancing people-to-people relations, the Ministry of External Affairs said in a statement.

President Jinping conveyed his deep appreciation to the Prime Minister for hosting him at the second informal summit in Chennai and said that he would not forget the welcome given to him by Modi and the people of India.

"Held talks with President Xi Jinping. Several subjects pertaining to deepening bilateral cooperation were discussed. Today's discussions will add new vigour to India-China relations," the Prime Minister tweeted after fruitful discussion with Jinping.

The President also invited the Prime Minister for the third informal summit in China in 2020. The date and venue for which will be determined through diplomatic channels, the statement read.

"When we met in Chennai, it gave our journey a new energy," the Prime Minister said during bilateral meeting with China President Xi Jinping on the sidelines of the BRICS summit here.

They both agreed on the importance of maintaining close dialogue on matters relating to trade and investment. President Xi thanked the Prime Minister for India's substantial participation in the just concluded China Import Export Expo in Shanghai.

The two leaders agreed that the new high-level mechanism on trade and economy should meet at an early date.

The leaders noted that the Special Representatives will have another meeting on matters relating to the Boundary Question and reiterated the importance of maintaining peace and security in the border areas.

The leaders also exchanged views on multilateral issues including WTO, BRICS, and RCEP. This is the second meeting between Modi and Jinping just a little more than a week after India pulled out of a mega trade deal in Thailand mainly because of its huge trade deficit. 
On November 4, India decided not to join the Regional Comprehensive Economic Partnership (RCEP) agreement as its key concerns have not been addressed.

Earlier, the Prime Minister also held extensive talks with Russian President Vladimir Putin and Brazilian President Jair Bolsonaro to enhance the strategic partnership between the countries.