OREANDA-NEWS. Bilateral Meeting of the Commerce and Industries Minister, Mrs Nirmala Sitharaman with Wang Shouwen, Vice Minister for Ministry of Finance and Commerce, China.

The Commerce and Industries Minister, Mrs Nirmala Sitharaman and Wang Shouwen, Vice Minister for Ministry of Finance and Commerce, China exchanged notes on trade and commerce and agreed that the mounting bilateral trade deficit has been a cause for concern for India which seeks greater market access for its goods for a long term sustainable trade relationship.

Commerce Minister requested for expeditious clearances for import of Indian Rice and a ‘Green Channel’ for import of Indian Pharmaceutical products to China – especially those which already have USFDA and EUFDA accreditation. She also requested the Chinese Vice minister to consider demonstration IT/ITeS projects for Indian companies - which have acquired global acclaim. She expressed concerns at the long drawn procedures for clearances which tend to frustrate the Indian companies seeking business opportunities in China.

Smt. Sitharaman requested for ‘buying missions’ to India to source amongst other things, Indian Tobacco and oil meals.

The two leaders in consonance with the apex level meetings convened by the Prime Minister Mr Modi and Mr Xi Jinping, agreed that measures on providing greater market access for Indian goods and services in China need a demonstrative action.