Chinese premier Li Keqiang has offered Indian goods more access to his country’s market for narrowing the bilateral trade deficit and expressed willingness to begin talks for a free trade agreement with India.
“We also understand India’s concerns of trade deficit. China is also willing to provide facilitation to India’s products to access Chinese markets.
“I am confident that we have the ability to mitigate the trade imbalance between our two counties and China never has any intention to seek trade surplus,” Keqiang said.
He was speaking here at a function today organised by industry body FICCI and the Indian Council of World Affairs.
“China is willing to launch negotiations on a China-India regional trading arrangement,” he said.
Keqiang said his Government supports Chinese enterprises to increase investments in India and expand trade in services.
“China and India are huge markets with great potential...
India has competitive edge in IT, software and bio-medicines...,” he said, adding that China can also help India in its infrastructure projects.
He also said that both sides should work together to curb protectionism.
While India’s exports to China stood at only $13.52 billion in 2012-13, its imports aggregated $54.3 billion, leaving a trade deficit of $40.78 billion.