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India attends PRC import expo as 'guest of honour country'

07
Nov '19
Pic: Shutterstock
Pic: Shutterstock
India this week took part in China's 2nd International Import Expo (CIIE) in Beijing where it is the ‘guest of honour country’. An Indian delegation headed by commerce secretary Anup Wadhawan took part in the November 5-20 expo aimed at enabling countries to enhance exports to China. India made a strong pitch for raising exports to China to reduce the trade deficit.

China's total imports last year amounted to $2.14 trillion.

Inaugurated by Chinese President Xi Jinping, this year’s expo has offered fifteen nations the symbolic designation of ‘guest countries of honour’. The other such countries are Cambodia, the Czech Republic, France, Greece, Italy, Jamaica, Jordan, Kazakhstan, Malaysia, Peru, Russia, Thailand, Uzbekistan and Zambia.

A number of European leaders, including French President Emmanuel Macron, took part in the expo, which is open for business visitors till November 10 and will open for public after that.

Guests and representatives from more than 170 countries and regions are attending the expo. More than 500,000 buyers and visitors from home and abroad are expected, according to a news agency report. China organised its first import expo last year amid growing protests from a number of countries, including India and the United States, complaining of unmanageable trade deficits.

While India's trade deficit last year climbed to over $57 billion in little over $95 billion total trade, the US trade deficit with China had mounted to $539 prompting President Donald Trump to launch a trade war demanding Beijing to open up.

The India-China bilateral trade is expected to touch $100 billion this year for the first time.

The Federation of Indian Export Organisations (FIEO) is the lead agency for the India country pavilion at the expo along with the Indian Chamber of Commerce (ICC) Kolkata. Delegations from Maharashtra and Karnataka would also showcase the trade and investment opportunities.

Fibre2Fashion News Desk (DS)


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