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India and China Close to Signing WTO Accession Agreement

Strategic Insights

— 1 min read

Negotiations between India and China over Beijing's accession to the World Trade Organisation (WTO) are nearing completion, with officials indicating that a agreement may be reached during the upcoming visit of Indian Commerce and Industry Minister Murasoli Maran. The accession, which has been in the works for some time, would provide a significant boost to bilateral trade relations between the two countries. China's accession to the WTO has already been formalised with the United States, and the country now seeks to conclude separate agreements with all member states, including India and the European Union.

Key Takeaways:

  • India and China are close to signing an agreement on Beijing's accession to the WTO, with most issues having been resolved.
  • Minor details remain to be ironed out, but an agreement is expected to be reached during the upcoming visit of Commerce and Industry Minister Murasoli Maran.
  • China's accession to the WTO would provide a significant boost to bilateral trade relations between India and China.
  • A Sino-Indian agreement on China's accession to the WTO would also provide a much-needed political push to the sluggish bilateral trade relations between the two countries.
  • China has already signed a historic deal with the United States on its accession to the WTO in November last year.
  • China requires agreement with 14 more member states, including India and the European Union, to complete its accession to the WTO.

Statistics:

  • China is one of the world's leading exporters.
  • India and China are close to signing an agreement on Beijing's accession to the WTO.
  • China has 14 more member states to conclude separate WTO accession deals with.
  • A Sino-Indian agreement on China's accession to the WTO would provide a significant boost to bilateral trade relations between the two countries.
  • China's accession to the WTO has been formalised with the United States in November last year.

Sources:

  • Asia Pulse, February 21: "India and China Close to Signing WTO Accession Agreement"
  • PTI: "China signs historic deal with US on WTO accession"

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