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Kamal Narang

Expanding trade: The Union Minister of State for Power and Commerce, Mr Jairam Ramesh, greets the Chinese Vice-Minister, Mr. Gao Hucheng, in the Capital on Sunday.—

Our Bureau

New Delhi, Oct 11 India and China should look ahead to explore the possibility of commencing discussions on a mutually beneficial regional trading agreement (RTA), Mr Jairam Ramesh, the Union Minister of State for Power and Commerce, has said.

In his interaction with the visiting Chinese business delegation, led by the Chinese Vice-Minister, Mr Gao Hucheng, here on Saturday, Mr Ramesh also stressed the need for increased market access for Indian agricultural products, especially fruits and vegetables, into China.

Mr Ramesh noted that the Chinese side has allowed entry for only three items — mangoes, grapes and bittergourd — out of 17 and hoped that the rest of the pending fruits and vegetables would be grouped into two groups for a simultaneous finalisation of Sanitary and Phytosanitary (SPS) protocols.

Both sides felt that there was a need to increase bilateral investments between the two countries, particularly in sectors like petrochemicals, steel, healthcare, IT, automobiles, biotechnology, advanced materials, renewable energy and low carbon technologies.

Mr Ramesh also said China is India’s biggest trading partner and India is 10th biggest trade partner for China. The Minister said India was taking all necessary steps for diversifying its trade basket.

The meeting was attended by Mr G.K.Pillai, Commerce Secretary, and senior officials from both the countries.

During 2007-08, India’s major exports to China were iron ore, raw cotton, ores and minerals, plastic and linoleum and machinery and instruments. India’s imports from China include electronic goods, machinery, iron and steel and organic chemicals.

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