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China to address trade deficit ahead of Li’s first visit to India

17 May 2013 Evaluate

Chinese vice commerce minister Jiang Yaoping has said that, China is paying close attention to address New Delhi's concerns over the widening trade deficit and promised to take steps to expand market access for Indian products. India has asked China to open up its markets in areas like IT and pharmaceuticals where the South Asian giant has an edge. The announcement comes ahead of Premier Li Keqiang's first visit to India.

India and China has signed purchase contracts worth USD 1.65 billion and financial agreements worth USD 11.64 billion and also signed engineering contracts worth USD 3.5 billion. Jiang was briefing Li's three-day visit to New Delhi and Mumbai from May 19 during which the two countries are set to sign several agreements and has said that China attaches importance to expanding cooperation with India in all fields

During Li's visit the two countries will hold the China-India CEO forum meeting and the China-India cooperation summit. A Chinese trade and investment promotion mission will accompany Li during his India visit.

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