Bangladesh Post Featured Image

New Delhi Correspondent
India on Thursday expressed concern over the large deficit in bilateral trade with China and wanted greater access to the Chinese market in sectors like IT, pharmaceuticals and agriculture products where New Delhi has proven strengths and significant global presence.
The concern over the trade gap, which is heavily in favour of China, was conveyed when Indian Commerce Secretary Anup Wadhawan held a meeting with Wang Shouwen, Vice Minister of China’s Commerce Minister, in Shanghai.
Wadhawan said India has proven strengths and significant global presence in areas like agriculture products, pharmaceuticals, information technology services and tourism but minuscule presence in China and these sectors need to be encouraged in bilateral trade, an Indian Commerce Ministry statement said. Wadhawan asked for support and assistance to relevant stakeholders for creating a suitable environment for India’s exports in these sectors to China.
The Indian official acknowledged Chinese government’s efforts in clearing some of the market access issues such as for rice and rapeseed meal in the past few months and expressed satisfaction over progress on soya bean meal and pomegranate and related issues.
He also informed Wang about the encouraging response to the business promotion events organized by the Indian Embassy and Consulates covering products like sugar, rice, tea and oil meals. Dr. Wadhawan wanted Wang to ensure China sources these products from India.
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 this year and attended by China’s Commerce Minister, both the countries had two rounds of dialogues at the official level leading to resolution of some of the pending market access issues.
During his visit, the Indian Commerce Secretary also had a detailed discussion with important sugar importers of China 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 long term basis.