India’s commerce minister, Suresh Prabhu commended China to open up its markets for agricultural products China has agreed to take tangible steps of giving more market access to Indian products and services, and setting up industrial parks here to narrow the widening trade deficit
China would work to provide greater market access to agricultural items, pharmaceuticals and other manufactured products. India is pushing China to further open up its market and allow more access for Indian agricultural products in order to narrow the two countries’ widening trade gap.
According to reports, Suresh Prabhu, urged China to open up its markets for products like rapeseed, soybeans, basmati and non-basmati rice, fruit, vegetables and sugar. Prabhu also expressed concern about the trade imbalance between the two countries.
India’s requests were made shortly after the two countries signed 101 trade agreements valued at about $2.37 billion during the visit of a trade group to India organized by China’s Ministry of Commerce (MOFCOM). The agreements involve trade of agricultural products including black tea, castor oil, peppermint oil and coco fiber.
Chinese Minister, Zhong Shan, said, that it is China’s constant policy to strengthen as well as deepen its trade relations with India. Zhong also invited Indian companies to attend the upcoming China International Import Expo and suggested that India might be able to increase exports to China via the expo.