India : Bilateral trade with China to prosper

In the Joint Working Group (JWG) talks which resulted into Chinese President Hu Jintao's forthcoming visit to India, China's representatives raised the subject of India restricting their companies from buying immobile property such as land and buildings to avoid increase in investments into India.

Indian representatives urged Chinese government to grant market access to the country's agricultural products and questioned China's stalling clearance of 17 such products. China in turn asked the country to give it market economy status.

Indian authorities stated in concern with China's demand that the immobile property issue was related to safety and laws for buying of such property could be applied to any neighbouring country. They said the country does not have any prejudice for China.

Bilateral trade between both nations will flourish in future if China grants market access to local agricultural products. All significant issues except the ones regarding Regional Trade Agreement were addressed in the JWG talks.