India China Joint Economic Group Meeting Begins Today

29 March, 2018, 02:20 | Author: Diane Mills
  • Tension between India and China is rising

In October, India and the USA also failed to issue a joint statement under the trade policy forum dialogue owing to unresolved differences.

China on Monday promised to address India's concerns on the widening trade deficit as New Delhi sought greater market access for products such as rapeseed, soyabean, rice, sugar and pharmaceuticals.

Instead of a joint statement, the Indian side issued a statement holding that the JEG between is the oldest and most important dialogue mechanism to address the "most important issue" of India's trade imbalance with China. In an interview to South China Morning Post, he said, "In order to maintain the peace and tranquility along the India-China border, there are certain areas, certain sectors which are very sensitive, which both the countries must not change the status quo, it will lead to a situation like what happened in Doklam".

In January, Army Chief General Bipin Rawat had said the time had come for India to shift its focus from borders with Pakistan to the frontier with China, indicating the seriousness of the situation. "We hope the Indian side could learn some lessons from this and stick to the historical conventions and work with China to ensure the atmosphere in the border areas is conducive for the development of bilateral ties", she said. Bambawale added that only candid and frank talks can prevent these kinds of incidents between India and China.

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At the 10th meeting of the India-China JEG four years ago in Beijing both sides had reaffirmed their determination to expand and diversify bilateral trade and economic cooperation.

"The two ministers, while reaffirming and reiterating their commitments to promote a balanced and sustainable bilateral trade, agreed to continue to take forward the initiatives identified in the "Five Year Development Programme for Economic and Trade Cooperation", the ministry said.

This comes after United States president, Donald Trump, signed a memorandum which adversely affects China's trade with the country, by imposing $60 billion on imports from China and also put stringent restrictions on investments from China.

During the 9th JEG in 2012, the two sides set up three working groups on economic and trade planning cooperation, trade statistical analysis and service trade promotion.

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