Beijing: China has promised to allow import of more products from India during the just concluded Joint Economic Group's meeting attended by Commerce Ministers of the two countries, to enable New Delhi to reduce the trade imbalance, media reported in Beijing.
"China has promised to allow the import of more products from India, to close an existing $ 23.4 billion trade gap between the two countries, despite a series of trade disputes in recent months," state run China Daily reported.
JEG meeting attended by India's Commerce Minister Anand Sharma and his Chinese counterpart Chen Deming was held in New Delhi early this month where India has taken up the yawning trade gap and pressed China to open up for India IT, Pharmaceutical, Agricultural products besides Bollywood films.
Chinese officials said that both sides have agreed to work toward a "more balanced" trade model, the Daily report said.
"It is significant for the two sides to enhance trade cooperation, due to the divergence of the structure of products between China and India and their leading economic positions in Asia," Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation with the Ministry of Commerce said.
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