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Business EconomyPosted at: Nov 6 2018 3:59PM


Commerce Secretary pitches for balanced India-China Trade

New Delhi, Nov 6 (UNI) India on Tuesday expressed its concern to China over the large trade deficit while acknowledging Chinese Government’s efforts in clearing some of the market access issues.
Commerce Secretary Anup Wadhawan, who is visiting Shanghai to attend the China International Import Expo (CIIE), met China's Vice Minister for Commerce Wang Shouwen and discussed bilateral trade issues.
The Commerce Secretary while expressing concern regarding the large trade deficit, acknowledged Chinese Government’s efforts in clearing some of the market access issues such as for rice and rapeseed meal during the past few months and expressed satisfaction over progress on soya bean meal and pomegranate and related issues.
Dr Wadhwan was accompanied by senior officials from Department of Commerce, Department of Food and Public Distribution and officials from Embassy of India in Beijing and Consulate in Shanghai. The Indian delegation on this visit included Chairman APEDA, MD NAFED, DG FIEO, DG Pharmexcil.

He also informed Mr Wang about the encouraging response to the business promotion events organised by the Indian Embassy and Consulates covering products like sugar, rice, tea and oil meals.
Dr Wadhawan requested Mr Wang to provide Ministry of Commerce of the People's Republic of China (MOFCOM)’s guidance to its importers to source these products from India.

The Commerce Secretary informed that areas like agriculture products, pharmaceuticals, information technology services and tourism in which India has proven strengths and significant global presence but minuscule presence in China, need to be encouraged in bilateral trade.
Dr Wadhawan asked for guidance, facilitation, support and assistance to the relevant stakeholders for creating a suitable environment for India’s exports in these sectors to China.

MOFCOM thanked India for accepting its invitation to participate in the 1st CIIE and assured all support for increasing India’s exports to China.

Recently India and China had a series of official level exchanges to discuss the bilateral trade issues.
After the successful Joint Economic Group meeting hosted by India’s Commerce Minister in March 2018 and attended by China’s Commerce Minister, both countries had two rounds of dialogues at the official level, leading to resolution of some of the pending market access issues.

During this visit, the Commerce Secretary also had a detailed discussion with important sugar importers of China including China Sugar Association and briefed them about India’s sugar sector and its proven available capacity in terms of both, quality as well as quantity, to meet the Chinese requirements on a sustained long term basis.
Important players from Indian sugar industry including MD, National Federation of Cooperative Sugar Factories Ltd (NFCSF) also attended related meetings during the visit. These meetings would be helpful in tapping this major import market for Indian sugar.

On November 4, the Commerce secretary attended the banquet hosted by China’s president Xi Jinping on the eve of opening of the CIIE and attended the inaugural ceremony of the expo the next day, according to official statement here.
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