Jan19, 2010 Despite rising border incidents as a result of Chinese incursions and several particularly offensive anti-India tirades among a section of China’s official think-tank academics recently, India and China are close to firming up a comprehensive bilateral trade expansion agreement, according to the Indian Express online Jan 18. The report said a deal may be finalized by the time India’s Commerce Minister Anand Sharma visits Beijing beginning Jan 25.
The agreement is designed to commit Beijing to increasing Indian participation in Chinese projects in India. It will also address the issue of easing market access for Indian companies in China, the report added.
Once finalized, the deal with be the first-ever comprehensive bilateral trade agreement between the two Asian giants. In particular, it is expected to remove a roadblock for Chinese investments in India.
The report cited sources as saying India was looking to build stakes in what was still a lopsided trade relationship. It noted that while China had emerged as India’s largest trading partner this year (about $45 million so far), the balance was tilted massively in China’s favour. About three-fourths of India’s gains from the trade, it said, were from mineral exports, essentially iron ore.
Source : TibetanReview.net