India, China hold trade expansion talks at WTO meet
India and China have held talks on expanding bilateral trade on the sidelines of a World Trade Organization (WTO) ministerial conference, signaling a cautious thaw in economic relations between the two Asian powers.
India’s Commerce Minister Piyush Goyal met his Chinese counterpart Wang Wentao during the WTO meeting held in Yaoundé, Cameroon, News.Az reports, citing foreign media.
The discussions mark the first formal engagement between the two trade ministers since India exited negotiations related to the China-led Regional Comprehensive Economic Partnership (RCEP) in 2019.
According to Goyal, the meeting focused on the WTO ministerial agenda as well as broader bilateral trade issues aimed at rebuilding trust and expanding economic cooperation.
Both sides reportedly discussed ways to boost trade flows, with India seeking improved access for key export sectors including pharmaceuticals, engineering goods, fish products, and agricultural commodities.
China, in turn, encouraged India to take greater advantage of platforms such as the “Big Market for All: Export to China” initiative, the China International Import Expo, and the China-South Asia Expo to increase exports.
The talks come amid a widening trade imbalance between the two countries. India’s trade deficit with China has now exceeded $100 billion.
During the April–February period:
- India’s exports to China rose about 38% to $17.5 billion
- Imports from China increased 15% to $119.55 billion
While the meeting does not signal a major policy shift, it reflects ongoing efforts by both countries to stabilize economic relations and explore new areas of cooperation despite broader geopolitical differences.
News.Az
By Aysel Mammadzada
