ZHU Xiaohong, Counselor, Embassy of People's Republic of China today said that India-China should continue to strengthen cooperation in trade facilitation, upgrade bilateral, regional and multilateral trade facilitation, and create favorable conditions for expanding bilateral trade scale and alleviating trade imbalances.
Speaking at the 'India-China Business Meeting & Signing Ceremony' organized by FICCI, ZHU Xiaohong highlighted that India's agriculture products, pharmaceuticals, handicrafts have certain advantages. However, due to lack of necessary understanding and cognition of Chinese market, their way into China is not smooth.
She further suggested that the Indian side should focus more on '4Cs' -- Compatibility, Competitiveness, Creativity and Cooperation. ZHU added that India is China's largest trading partner in South Asia and Indian companies are expanding in the Chinese market with a cumulative investment of nearly $ 1billion."With a combined market of over 2.7 billion people and GDP of 20% of the world's total, China and India enjoy huge potential and broad prospects for economic and trade cooperation, she said.
Highlighting the trade imbalance between the two countries, ZHU said that China has taken series of steps to reduce the trade imbalance and made positive progress in promoting the import of agricultural products from India.
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