Tuesday, 02 January 2024 12:17 GMT

Media reports China to loosen ship-outs restrictions to India


(MENAFN) China has assured India that it will address key trade concerns, including the supply of rare earth materials, fertilizers, and tunnel-boring machines, Indian media reported on Tuesday.

Chinese Foreign Minister Wang Yi reportedly made the commitment during talks with Indian Foreign Minister S. Jaishankar, according to ANI. Indian government sources, cited by RT, confirmed that Beijing has already begun responding to India’s requests, with shipments reportedly underway.

Wang is on a three-day visit to New Delhi, where he will hold border discussions with Indian National Security Adviser Ajit Doval and meet Prime Minister Narendra Modi. The export restrictions, announced in April, have affected critical supply chains in aerospace, automotive, and semiconductor sectors, as well as agriculture and infrastructure projects in India.

Jaishankar emphasized India’s desire for a “stable, cooperative, and forward-looking relationship” with China. Both countries are exploring broader economic cooperation amid rising US tariffs. Wang also urged India and China to act responsibly as major powers and contribute to a multipolar global order, noting challenges to free trade and the international system.

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