India, China trade talks to focus on mending ties | business | Hindustan Times
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India, China trade talks to focus on mending ties

India and China will kickstart discussions next week covering a broad spectrum of sectors aimed at pitchforking bilateral trade to $100 billion by 2015 under a “joint economic group”- a move seen as an attempt to mend a relationship fraught with disputes between two of the world’s greatest emerging economic powers, HT reports.

business Updated: Aug 23, 2012 22:22 IST
HT Correspondent

India and China will kickstart discussions next week covering a broad spectrum of sectors aimed at pitchforking bilateral trade to $100 billion by 2015 under a “joint economic group” (JEG) — a move seen as an attempt to mend a relationship fraught with disputes between two of the world’s greatest emerging economic powers.

Chinese commerce minister Chen Deming will arrive in New Delhi on August 26 on a two-day visit and will meet his Indian counterpart Anand Sharma at the eighth annual meeting of the JEG a day later.

The discussions will focus on India’s participation in China’s trade fairs, trade facilitation, enhancing exchange and cooperation of pharmaceutical supervision, stronger relationships between Chinese and Indian enterprises and speedier completion of phyto-sanitary negotiations on agricultural products, said an official source on the condition of anonymity.

China — which fought a brief and bitter mountain war with India in 1962 — is India’s largest trading partner with bilateral trade at over $60 billion. It is also India’s single-largest source of imports, with a share of over 10% of India’s total imports of $351 billion in 2010-11.

China has accused India of anti-trade measures, allegations New Delhi denies. In turn, it has blamed Beijing for imposing non-tariff barriers to prevent access into the Chinese market.