Beijing, June 6 : Delivering a lecture on Indian Foreign Policy at Peking University in Beijing, Indian External Affairs Minister Pranab Mukherjee today urged China to work with India to make the global institutions like the United Nations and World Bank more conducive to Asian requirements.

“These global institutions are based on the world order which is more than 60 years old. There is an urgent need to restructure and democratize these structures attuned to the ground realities of today,” Mukherjee said.

India has been yearning for a permanent membership at the Security Council for years.

Making an indirect reference to the United States and Europe and changing international geopolitics, Mukherjee said, “It is now recognized that the center of gravity of International relations is shifting towards Asia".

“Cooperation between India and China transcends the global sphere and it has global implications”, Mukherjee added.

The Minister further urged China to build an Asian economic community that is more open, transparent and inclusive.

India and China are presently the members of ASEAN Regional Forum (ARF) and enjoy observer status in the Shanghai Cooperation Organization (SCO)

and powerful Group of Eight (G8). Both countries are also engaged in troika and Brazil Russia India China (BRIC) regional cooperation.

Speaking on bilateral relationship, Mukherjee said: “India wants closer relations and friendship with China and I believe that china reciprocates”.

Referring to joint working mechanism, he said: "Our borders are peaceful and we are determined to keep it so. We have evolved mechanism and have gained experience to maintain peace and tranquility on our borders".

Mukherjee will be meeting the newly elected Vice President Xi Jiping later in the day.

Reiterating Prime Minister Dr. Manmohan Singh’s statement, he further said, “There is enough space for both of us to grow in the new world order, adding that India-China relations will determine the future course of history.

The Minister also congratulated Peking University on its completing 110 years. (ANI)