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Is China India Free Trade Agreement on cards?

Is China India Free Trade Agreement on cards?

April 27, 2018. (Ministry of External Affairs via AP)*Kolkata*: A free trade agreement (FTA) between India and China would helpremove trade barriers between the two countries and facilitate trade,investment and other exchanges between them, a Chinese envoy said here onSaturday.

“Free trade agreement will greatly facilitate trade, investment and otherexchanges between China and India and therefore, we will continue to pursuesuch agreements…,” Chinese Consul General in Kolkata Ma Zhanwu said.

“Indeed, there are barriers for trade and investments between China andIndia and that is why the central governments of the two countries areworking hard,” he said at an interactive session organised here by BharatChamber of Commerce.

According to him, Dokhlam stand-off is over and a new chapter has begunwith the meeting between Chinese President Xi Jinping and Indian PrimeMinister Narendra Modi at the Wuhan informal summit.

“Both countries adhere to peaceful negotiation on boundary issues,” he said.

He also mentioned that as part of the friendly education exchange programmebetween the two countries, an Education Expo by Chinese universities inBiswa Bangla Convention Centre is likely to be held next month, where asmany as 62 universities from China would participate.

Ma stated that China would increase its share of imports from eastern India.

According to him, it is of prime significance as to how trade and industryin eastern India and West Bengal can take advantage of improvedcommunication channels and further explore emerging prospects, especiallyin sectors like education, pharmaceuticals and tourism.

In this regard, this year’s Bengal Global Business Summit (BGBS) witnessedthe participation of three delegations and 30 companies from China — thebiggest so far in pursuit of opportunities of investments in West Bengal,he added.