India, China sign protocol on hygiene requirements for export of fish meal, fish oil
India and China have signed a protocol on hygiene and inspection requirements for the exports in New Delhi during the visit of Hu Wei, the Vice Minister of China’s General Administration of Customs. The Chinese delegation discussed issues regarding market access for products such as milk and milk products, agricultural goods like soy meal, fruits and vegetables, tobacco and pharmaceuticals.
India and China on November 28, 2018 signed a protocol on hygiene and inspection requirements for the exports in New Delhi during the visit of Hu Wei, the Vice Minister of China’s General Administration of Customs. The information was shared by the Union Commerce Ministry.
Hu Wei, who led a six-member delegation to India, met India’s Commerce Secretary Anup Wadhawan during his visit and discussed various issues of market access for different products.
• During the meeting, both Indian and Chinese sides appreciated each other’s concerns and agreed to resolve the market access issues expeditiously to achieve the vision of the leaders of both the countries by promoting a more balanced trade.
• The Chinese delegation discussed issues regarding market access for products such as milk and milk products, agricultural goods like soy meal, fruits and vegetables, tobacco and pharmaceuticals.
• This is significant, as India has been seeking market access for these items from China.
• The protocol on hygiene and inspection requirements was signed for the export of fish meal and fish oil from India to China.
• The agreement would enable India to commence export of fish meal and fish oil to China. China had so far not allowed these exports from India.
• China imports fish oil to the tune of USD 143.29 million per year and fish meal worth USD 263.43 million.
This is the second Indian product to get clearance from China in the last six months.
A few months ago, during the meeting of the two countries in Wuhan, the protocol for Indian rice export to China was signed paving the way for export of Indian rice to China.
The Indian exports to China are an integral part of the bilateral trade relations between the two Asian countries. They focus mainly on primary products.
In 1984, India and China signed a trade agreement to foster greater cooperation with each other.
The principal items of Indian exports to China comprise ores, slag and ash, iron and steel, plastics, organic chemicals and cotton.
India’s cotton exports to China may see a fivefold jump in the marketing year starting October 1 (2018-19), after China in a move to counter US trade restrictions slapped a 25 per cent additional duty on imports of the fibre from the US on July 6, amid the trade standoff between the world’s two biggest economies.
China is the second biggest market for Indian cotton after Bangladesh. India exported 154,857 tonnes of the fibre to China and 350,488 tonnes to Bangladesh in 2016-17. As per the DGFT data, during April 2017-January 2018, India shipped 57,549 tonnes to China and 296,805 tonnes to Bangladesh.
At present, iron ore constitutes about 53 per cent of the total Indian exports to China. The other items that have the potential to be exported include marine products, oil seeds, salt, inorganic chemicals, plastic, rubber, optical and medical equipment and dairy products.