India, China Commerce Ministers to meet on Monday

New Delhi, Aug 26 (ANI): Union Commerce and Industry Minister Anand Sharma will meet his Chinese counterpart Chen Deming here on Monday for the Ninth Session of India-China Joint Economic Group (JEG).

The Indian delegation, led by Sharma, would include Commerce Secretary S R Rao, Saurabh Chandra, Secretary, Department of Industrial Policy and Promotion and senior officers from various departments of the government. The Chinese side, led by Deming, would include China's Ambassador to India, Zhang Yan, and other senior Chinese Government officials.

The Indian side is likely to raise the issue of growing trade deficit. The issues related to market access in IT and ITES and Indian agricultural products are also likely to be raised.

Export of pharmaceutical products, diamonds and export of sea food to China are also likely to be discussed. 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 focus on ways to strengthen cooperation in trade remedies and service trade.

Border trade issues between India and China, and modes to improve investment and operation environment for Chinese enterprises in India are also likely to be put to discussion.

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 and 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. (ANI)