'Chinese Premier's visit to India will smoothen two nations' trade ties'

Posted By: One India
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Beijing, Dec 14 (ANI): Senior Chinese officials have said that Premier Wen Jiabao's visit to India this week would pave the way for a number of commercial deals, which would eventually smoothen trade relations between the two emerging economies.

Wen is scheduled to visit India from December 15 to 17 before visiting Pakistan for two-days visit.

The China Daily quoted Liang Wentao, Deputy Director of the Department of Asian Affairs at the Ministry of Commerce, as saying that a large delegation comprising of over 100 senior business leaders would be accompanying Jiabao.

Meanwhile, Peng Gang, commercial counsellor of the Chinese Embassy in India, said both the countries are expected to sign over 30 deals, focusing mainly on iron ore, biochemical products and fabrics.

China is India's biggest trading partner, and the value of bilateral trade is expected to pass 60 billion dollar mark next year, a 30-fold increase since 2000. However, the balance of trade is heavily in China's favour. India's trade deficit with China rose from a billion dollars in 2001-2 to 16 billion dollars in 2007-8, the paper said.

Wen's visit would be the first to India by a Chinese premier in four years. (ANI)

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