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China's Wen Pushes India Trade

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China's efforts to promote trade with India. Visit by Premier Wen to New Delhi. Deals made include a loan from China Development Bank to help Reliance ADA group purchase power-producing equipment from Shanghai Electric Group Company. The two companies signed a $10 billion agreement in October 2010 for Reliance to buy power equipment. India sells mostly commodities such as iron ore and imports Chinese power and telecom equipment and manufactured goods at this stage. Trade estimated at $60 billion is tilted in China's favor because of cheaper manufactured goods imported from China. Premier Wen calls for expanding trade emphasizing the advantages of combining China's strengths in engineering and infrastructure with India's strengths in information technology and pharmaceuticals. His point: the 21st century is the Asian century, and both India and China can make great achievements. India sees the advantages of using China's strengths and cost competitiveness in telecom, power and other areas as it seeks to boost its development of infrastructure. Wen's visit follows visits by the UK's Cameron, US's Obama, France's Sarkozy, all pursuing trade and investment with India.

Free trade agreements in Asia are growing rapidly.

11/22/2006

The FTA's include agreements between South Korea and India and the agreement between China and Taiwan. About 166 signed since 1999, and 62 are in negotiation stage.

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EU Is Torn Over Korea Trade Pact

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Embarrassment in Seoul

Wall Street Journal 11/13/2010

China's Wen Pushes India Trade

Wall Street Journal 12/15/2010

China's Vanishing Trade Imbalance

New York Times 05/01/2012


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