9th Indo-China Joint Economic Group meet to be held on Monday

Saturday, August 25, 2012

New Delhi: Indian Commerce, Industry and Textiles Minister Anand Sharma, will meet Chinese Commerce Minister Chen Deming here on Monday (August, 27) for the 9th session of India-China Joint Economic Group (JEG).

The Indian side led by Shama is expected to raise the issue of growing trade deficit.

The issues related to market access in IT and ITES and Indian agricultural products may also be the prime concern and likely to be discussed.

Both the leader may also discuss the issue export of pharmaceutical products,diamonds and export of sea food to China.

Investment related issues and import of Indian films by Chinese side are also likely to come up for discussion. The Chinese side is likely to bring to the fore the ways to strengthen cooperation in trade remedies and service trade.

The border trade issues between India and China, and modes to improve investment and operation environment for Chinese enterprises in India will be key issues of talk.

It was in December 1988 during the visit of the then Prime Minister of India.Rajiv Gandhi to Beijing, that a Joint Group on Economic Relations, Trade, Science & Technology (JEG) with the Commerce Ministers as the Chairman on the Indian side and the Minister for Foreign Economic Relations and Trade as the Chairman on the Chinese side was formed.

The first meeting of the JEG was held in New Delhi from September 18-20, 1989. The eighth session of India-China JEG was held in Beijing on January 19, 2010.

The total bilateral trade between India and China for the financial year 2011-12, stood at USD 75457.42 million as compared to USD 59000.36 million during 2010-11. During FY 2011-12, the exports stood at USD 17902.98 million while the imports stood at USD 57554.44 million.

The provisional trade deficit for 2011-12 stood at USD 39,651.46 million.
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