China seeks dispute resolution with India, retains WTO option

China seeks dispute resolution with India, retains WTO option
PTI
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First Published: Thu, Mar 19 2009. 02 29 PM IST
Updated: Thu, Mar 19 2009. 02 29 PM IST
New Delhi: China on Thursday said it does not rule out going to the WTO against India on import curbs on its products, mainly toys, but hoped Beijing can resolve the trade dispute with New Delhi through bilateral negotiations.
“We do not rule out litigation at the WTO. But (now), we are (in) bilateral consultation,” visiting Chinese vice-minister of commerce Zhong Shan said after talks with commerce secretary G K Pillai here.
The two countries have also decided to set up a joint panel to remove irritants in trade matters.
India has lifted the ban on importing Chinese toys imposed in January, but retained the safety standards for consignments from China. Pillai said he has assured the Chinese vice-minister that India is in the process broadbasing the safety norms for imports from all countries.
“The future course of action ...on safety standards will be applicable even to domestic industry,” Pillai informed the Chinese delegation led by Zhong.
India sought access to the vast Chinese market for farm products. With China agreeing to send an inspection team for Basmati rice for the kharif season, India can hope to ship the fine grain variety this year, Pillai said.
India-China trade has seen a sharp rise to over $51 billion in 2008-09 from $38 billion in the previous fiscal.
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First Published: Thu, Mar 19 2009. 02 29 PM IST
More Topics: Trade | China | Toys | India | WTO |