China accuses India of restrictive trade practices Friday, June 25 2004 14:25 Hrs (IST)
Beijing:
Notwithstanding the growing political ties, China has accused India, its biggest trade partner in South Asia, of carrying out restrictive trade practices, including technical barriers, opaque and complicated regulations and slapping anti-dumping duties on Chinese goods worth millions of Dollars.
In its first-ever foreign market access report on India alongwith 18 other major trading partners of China, the Ministry of Commerce (MOFCOM), noted that despite submitting relevant information to the Indian side, the Chinese side is still waiting for India's decision on whether to grant "individual market economy status" to China.
The report, according to 'China Daily', summed up Chinese companies' trade and investment environments with its 19 major trading partners in 2003 and shows the Ministry's concern about barriers in some foreign markets.
On India, the MOFCOM noted that high tariffs are imposed on certain import products.
Though peak tariffs for the fiscal year of 2003-04 were lowered from 30 per cent to 25 per cent, the downturn adjustment did not cover most agricultural produce. Instead, the tariffs for agricultural produce were raised.
For example, the tariff on imports of garlic was raised from 30 per cent to 100 per cent at the same time as quantitative restriction was eliminated in January 2003.