China to send buying missions to increase imports from India

January 15th, 2008 - 2:28 pm ICT by admin  

A file-photo of Manmohan Singh

New Delhi, Jan 15 (ANI): Chinas Assistant Minister of Commerce Chen Jian has said that the Government will be sending buying missions this year to India in order to boost imports.

At the China-India Economic, Trade and Investment Cooperation Summit in Beijing on Monday, Chen said that the government would try to increase Chinese imports from Indian companies through exhibitions and promotions.

He said the two countries, which account for one-third of the global population, could also cooperate in other areas.

“Down the track, the two sides can look at cooperation in the hydropower, tourism, finance, education and medical sectors,” he said.

The two governments should encourage two-way investment and the exchange of skilled professionals, he said.

Indian officials also said that they wanted to narrow the trade gap between the two countries.

China’s exports to India stood at 21.61 billion dollars in the first 11 months last year, while imports hit 12.58 billion dollars, the Ministry of Commerce said. The imbalance has raised concerns in India.

Meanwhile, Prime Minister Manmohan Singh on a official visit to China said that the challenge before us is to diversify our export basket to China.

“I would urge Indian businesses to vigorously pursue opportunities for expanding non-traditional exports,” he added.

The summit, held by China’s international trade council, drew 600 company representatives from the two nations, including Sinosteel, Tata Group and ArcelorMittal SA.

China is the second largest trade partner of India, while India is China’s 10th largest. Investment between the two countries is increasing, with more contracted projects, the China Daily reported. (ANI)

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