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China-India trade touches $10 b in nine months

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Mr Rajesh Bhagat, Director, Worldex India, and Mr Yuan Nansheng, Consul-General of China, at the `2004 South China Commodities Exhibition' in Mumbai on Thursday. — Shashi Ashiwal

Mumbai , Dec. 2

TOTAL bilateral trade volume between India and China reached a record level of $10 billion (around Rs 45,000 crore) during the first nine months of 2004, up by 83.8 per cent against the same period last year, according to Mr Yuan Nansheng, Consul General of China.

India's export to China was about $5.8 billion and India's import from China was about $4 billion during the review period, Mr Nansheng told newspersons at the press meet of 2004 South China Commodities (Mumbai India) Exhibition.

In 2003, the bilateral trade volume recorded was at $7.6 billion.

India's major exports to China include iron ore, plastic and linoleum, marine products, cotton yarn and fabrics, organic and inorganic chemicals, aluminium and pharma products.

China's exports to India include organic chemicals, coal and briquette, medicine and pharma products, textile yarn, non-ferrous metals and projects goods.

"Sino-India trade is in favour of India by nearly $1.8 billion which is a very good news. To strengthen bilateral trade between two countries, a joint study group consisting of officials and economists of both countries has been formed to examine the potential complementarities in expanding trade and economic ties and explore the feasibility of setting up India-China Free trade Area," Mr Nansheng said.

South China Commodities (Mumbai) Exhibition 2004, with companies from entire South China, has been organised by the China Council for Promotion of International Trade and co-organised by Hunan Provincial Department of Commerce. Worldex GEC (India) has been appointed to manage this event.

The exhibition will be opened for business visitors on December 9, 10 and 11 and for general visitors on December 12, at Hotel Grand Hyatt (Santacruz, Mumbai).

A trade seminar on "How to develop India-China Trade" will be held on December 10, at 3p.m. on issues related to industry, market trends, product development and related aspects.

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