India, China Explore Ways to Boost Bilateral Trade

(MENAFN) India and China have engaged in discussions aimed at expanding their economic ties, according to Piyush Goyal, speaking on the sidelines of the World Trade Organization ministerial conference.

Goyal met with his Chinese counterpart, Wang Wentao, to exchange views on the conference agenda and bilateral trade issues. “Met Mr. Wang Wentao, Minister of Commerce of China, on the sidelines of the #WTOMC14. Exchanged views on the MC-14 agenda and discussed bilateral trade matters,” he wrote on X on Thursday.

This marks the first formal dialogue between the two trade ministers since India withdrew from the China-led Regional Comprehensive Economic Partnership negotiations in 2019.

Goyal said the talks focused on expanding trade and building mutual trust to facilitate smoother commercial relations. Key sectors identified for growth include pharmaceuticals, engineering goods, fish, and agricultural products.

Wang expressed support for India’s participation in initiatives such as the “Big Market for All: Export to China” program and encouraged New Delhi to leverage events like the China International Import Expo and the China-South Asia Expo to promote exports.

India’s trade imbalance with China exceeded $100 billion between April and February, with exports rising nearly 38% to $17.5 billion while imports increased 15% to $119.55 billion.

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