Strategic Economic Dialogue Between India & China

India, China to hold strategic economic dialogue

India & China to discuss a counter-plan for Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), being negotiated by USA, at Strategic Economic Dialogue (SED) between India &China at Beijing.
Planning Commission Deputy Chairman Montek Singh Ahluwalia will represent India & from China National Development & Reform Commission chairman Xu Shaoshi.
China and India will engage in SED to protect their regional & global interests & to protect the supremacy of development agenda at G20 & WTO.
SED is an attempt to carve out China, Brazil, India and other developing economies from WTO.
The 4th round of EU-US TTIP negotiations ended in Brussels recently. It seeks to harmonise standards and licensing procedures and waive tariffs across EU and US trade zones.
TPP includes US, Australia, New Zealand, Japan, Singapore, Malaysia, Brunei, Vietnam, Chile, Canada, Mexico and Peru.
The “unsustainability of the imbalance” in Indo-China trade also to figure in Beijing meet. Indo-China trade declined in 2013 to $65 billion from $74 billion in 2012. India’s trade deficit with China reached its nadir at $31 billion in 2013.
India, China have set a target of $100 billion by 2015.
Indian products face regulatory obstacles in China. China’s products (mainly IT services & Pharma) have to wait for 5-6 years for approval.

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