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China`s exports to India zoom 40.8 per cent in 2002
Beijing, Mar 31: Despite India slapping anti-dumping duties on an array of Chinese products, China`s exports to India last year zoomed 40.8 per cent to reach an all-time record of 2.67 billion dollars.
Beijing, Mar 31: Despite India slapping anti-dumping duties on an array of Chinese products, China's exports to India last year zoomed 40.8 per cent to reach an all-time record of 2.67 billion dollars.
According to Chinese customs statistics, India's exports
to China also grew by an impressive margin of 33.7 per cent to
2.27 billion dollars, making China one of the biggest trading
partners of the country in 2002.
The combined effect reflected on the total bilateral trade figure which nearly touched the five billion dollar-mark in 2002 at 4.94 billion dollars.
However, the trade balance is steadily going up in favour of China in recent years, the figures show. In 2001, the trade balance was 196.302 million dollars while in 2002 it rose sharply to 397.548 million dollars.
Officials said they are confident that this year the bilateral trade would set another record by crossing the five- billion-dollar barrier through concerted efforts by the two sides to facilitate mutually-beneficial trade ties.
As part of this pro-active policies, India and China recently agreed to offer each other a more preferential tariff status this year than the most-favoured-nation (MFN) tariff rates by applying the Bangkok Preferential Trade Arrangement.
Under the agreement, China has agreed to offer a preferential tariff line on 217 items under its new status as a member of the World Trade Organisation (WTO), which would further boost India's exports to China.
The basket of Indian exports to China is mainly comprised of ores, iron and steel, plastics, organic chemicals, mineral fuels, marine products and paper.
Bureau Report
The combined effect reflected on the total bilateral trade figure which nearly touched the five billion dollar-mark in 2002 at 4.94 billion dollars.
However, the trade balance is steadily going up in favour of China in recent years, the figures show. In 2001, the trade balance was 196.302 million dollars while in 2002 it rose sharply to 397.548 million dollars.
Officials said they are confident that this year the bilateral trade would set another record by crossing the five- billion-dollar barrier through concerted efforts by the two sides to facilitate mutually-beneficial trade ties.
As part of this pro-active policies, India and China recently agreed to offer each other a more preferential tariff status this year than the most-favoured-nation (MFN) tariff rates by applying the Bangkok Preferential Trade Arrangement.
Under the agreement, China has agreed to offer a preferential tariff line on 217 items under its new status as a member of the World Trade Organisation (WTO), which would further boost India's exports to China.
The basket of Indian exports to China is mainly comprised of ores, iron and steel, plastics, organic chemicals, mineral fuels, marine products and paper.
Bureau Report